Lithium Americas (NYSE:LAC) Releases Earnings Results, Beats Expectations By $0.03 EPS

Lithium Americas (NYSE:LAC) released its quarterly earnings data on Thursday. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03, Zacks reports.

Lithium Americas Stock Down 2.9%

NYSE LAC traded down $0.14 during trading hours on Friday, hitting $4.47. 12,701,797 shares of the company traded hands, compared to its average volume of 23,469,950. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88. The business’s 50-day moving average is $5.67 and its 200-day moving average is $3.82. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -4.25 and a beta of 1.41. Lithium Americas has a twelve month low of $2.31 and a twelve month high of $10.52.

Insider Buying and Selling at Lithium Americas

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the sale, the vice president owned 40,005 shares in the company, valued at $379,247.40. This represents a 89.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors have recently added to or reduced their stakes in the company. Walleye Capital LLC acquired a new stake in Lithium Americas in the second quarter valued at $28,000. IHT Wealth Management LLC bought a new stake in shares of Lithium Americas in the 2nd quarter valued at about $28,000. Quadrant Capital Group LLC lifted its stake in Lithium Americas by 16.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock valued at $96,000 after purchasing an additional 2,321 shares during the last quarter. Orion Porfolio Solutions LLC bought a new position in Lithium Americas during the third quarter worth about $97,000. Finally, Diversify Advisory Services LLC acquired a new position in Lithium Americas during the second quarter worth approximately $51,000.

Analyst Ratings Changes

A number of research analysts have weighed in on LAC shares. TD Cowen reaffirmed a “hold” rating and issued a $5.00 price target on shares of Lithium Americas in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, October 31st. Wedbush upped their target price on shares of Lithium Americas from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Cormark cut Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 2nd. Finally, Jefferies Financial Group cut their price target on Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Lithium Americas presently has an average rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.