GMP FirstEnergy Thinks Neo Lithium’s Stock is Going to Recover

By Ryan Adsit

Neo Lithium (TSXV: NLC), the Consumer Goods sector company, has received a rating update from a Wall Street analyst yesterday. Anoop Prihar, an analyst with GMP FirstEnergy, has upgraded their rating on NLC to Buy , with a C$2.20 price target.

According to TipRanks.com, Prihar is ranked #720 out of 4560 analysts.

Neo Lithium has an analyst consensus of Moderate Buy, with a price target consensus of C$2.20.

Based on Neo Lithium’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$0 and GAAP net loss of C$9.34 million. In comparison, last year the company earned revenue of C$0 and had a GAAP net loss of C$32.49K.

Neo Lithium Corp. engages in the exploration and development of resource properties. It focuses on lithium salar and brine reservoir complex in Catamarca Province, Argentina. It operates through the Canada and Argentina geographical segments. The company was founded on January 15, 2016 and is headquartered in Toronto, Canada.

The company’s shares closed last Tuesday at $1.07, close to its 52-week low of $0.91.