Roth Mkm Lowers American Lithium (NASDAQ:AMLI) Price Target to $3.25

American Lithium (NASDAQ:AMLI) had its price target reduced by analysts at Roth Mkm from $5.50 to $3.25 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s target price suggests a potential upside of 484.32% from the company’s previous close.

Separately, National Bank Financial upgraded shares of American Lithium to a “strong-buy” rating in a report on Wednesday, June 5th.

American Lithium Trading Down 2.4 %

Shares of AMLI opened at $0.56 on Friday. The stock has a market cap of $121.01 million, a P/E ratio of -3.97 and a beta of 1.57. The company has a 50-day moving average of $0.64 and a two-hundred day moving average of $0.79. American Lithium has a 12-month low of $0.46 and a 12-month high of $2.18.

American Lithium (NASDAQ:AMLI) last announced its earnings results on Thursday, May 30th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. As a group, analysts forecast that American Lithium will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On American Lithium

Hedge funds and other institutional investors have recently modified their holdings of the company. Clarity Capital Partners LLC purchased a new stake in shares of American Lithium during the fourth quarter worth about $159,000. Smith Anglin Financial LLC grew its holdings in American Lithium by 8.2% in the fourth quarter. Smith Anglin Financial LLC now owns 161,905 shares of the company’s stock valued at $178,000 after purchasing an additional 12,272 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in American Lithium by 7.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,556,160 shares of the company’s stock valued at $13,807,000 after purchasing an additional 891,959 shares during the period. 7.70% of the stock is currently owned by hedge funds and other institutional investors.

About American Lithium

American Lithium Corp., an exploration and development stage company, engages in the acquisition, exploration, and development of resource properties in the United States. It principally focuses on the TLC Lithium Project located in the town of Tonopah, Nevada; and the Falchani Lithium project and the Macusani Uranium project located in Puno, Peru.