Standard Lithium (CVE:SLI) Sets New 52-Week High - Here's What Happened

Key Points

• Standard Lithium (CVE: SLI) achieved a new 52-week high of C$7.34 during trading, an increase from its previous close of C$6.35, with a trading volume of 733,024 shares.
• Equities analysts have raised the stock's ratings, with BMO Capital Markets giving it a "strong-buy" rating, contributing to a consensus rating of "Strong Buy."
• Standard Lithium is focusing on developing lithium brine properties in the U.S., with its flagship Lanxess project located in southern Arkansas, covering approximately 150,000 acres.

Standard Lithium Ltd. (CVE:SLI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$7.34 and last traded at C$7.34, with a volume of 733024 shares trading hands. The stock had previously closed at C$6.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SLI shares. BMO Capital Markets raised Standard Lithium to a "strong-buy" rating in a research note on Wednesday, August 6th. Raymond James Financial raised Standard Lithium to a "moderate buy" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Standard Lithium presently has a consensus rating of "Strong Buy".

Standard Lithium Price Performance

The firm has a fifty day simple moving average of C$4.49 and a 200 day simple moving average of C$3.20. The company has a market capitalization of C$1.50 billion, a PE ratio of 12.06 and a beta of 1.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 25.41 and a current ratio of 4.37.

About Standard Lithium

Standard Lithium Ltd. explores for, develops, and processes lithium brine properties in the United States. Its flagship project is the Lanxess project with area of approximately 150,000 acres located in southern Arkansas. The company was formerly known as Patriot Petroleum Corp. and changed its name to Standard Lithium Ltd.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.