Wall Street analyst has provided a review for the Materials company on August 9, but retained the same rating on the stock. Fundamental Research’s analyst Siddharth Rajeev reiterates their Buy rating on the shares of Ultra Lithium (TSXV: ULI), with a C$0.49 price target.
Rajeev observed:
“Pirzada, M.Sc. (Geology), P.Geo. Both of them joined the company in 2016. Dr. Lang is the single largest individual shareholder with 10.09 million shares, or 14.3% of the total outstanding shares. Since 2016, the company has significantly expanded its portfolio and currently holds a geographically diversified portfolio of lithium exploration and development assets. The current portfolio includes five brine lithium properties covering over 25,000 hectares in Catamarca Province, Argentina, one hard rock lithium project in Ontario Canada, and one brine property in Nevada, U.S.”
According to TipRanks.com, Rajeev is ranked #4226 out of 4847 analysts.
Read also: Crude Oil: Sell Now, Buy Later
Ultra Lithium has an analyst consensus of Moderate Buy, with a price target consensus of C$0.49.
Ultra Lithium’s market cap is currently C$12.7M and has a P/E ratio of 0. The company has a Price to Book ratio of 3.73.
Ultra Lithium, Inc. operates as a mineral exploration company. It engages in the identification, acquisition, evaluation and exploration of mineral properties including lithium and rare earth metals. The company was founded on November 27, 2004 and is headquartered in Vancouver, Canada.
The company’s shares closed on Monday at C$0.18, close to its 52-week low of C$0.15.
