Standard Lithium (CVE:SLI) Reaches New 52-Week High – Still a Buy?

Shares of Standard Lithium Ltd. (CVE:SLI) hit a new 52-week high during 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

SLI has been the topic of a number of recent analyst reports. Raymond James Financial raised Standard Lithium to a “moderate buy” rating in a research note on Thursday, July 10th. BMO Capital Markets raised Standard Lithium to a “strong-buy” rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Standard Lithium Trading Up 7.2%

The company has a market cap of C$1.56 billion, a P/E ratio of 12.55 and a beta of 1.61. The company has a quick ratio of 25.41, a current ratio of 4.37 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of C$4.64 and a two-hundred day moving average price of C$3.27.

Standard Lithium Company Profile

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.