International Lithium (CVE:ILC) Trading Down 40% – Here’s Why

International Lithium Corp. (CVE:ILC) shares traded down 40% on Wednesday . The company traded as low as C$0.02 and last traded at C$0.02. 2,376,253 shares traded hands during trading, an increase of 1,677% from the average session volume of 133,703 shares. The stock had previously closed at C$0.03.

International Lithium Stock Performance

The stock has a market capitalization of C$4.09 million, a price-to-earnings ratio of 3.00 and a beta of 0.19. The company has a current ratio of 43.32, a quick ratio of 54.82 and a debt-to-equity ratio of 2.78. The firm has a 50-day moving average of C$0.03 and a 200-day moving average of C$0.02.

About International Lithium

International Lithium Corp. engages in the investment, exploration, and development of mineral properties in Canada, Zimbabwe, and Ireland. It primarily explores for lithium, rubidium, caesium, and rare metal deposits. The company primarily focuses on the Raleigh Lake Lithium and Rubidium Project located in Canada and identifying additional properties in Canada and Zimbabwe. It also has an option agreement to acquire 90% interests in the Grass Roots Copper and Cobalt property located in Northwestern Ontario.