Lithium Americas (NYSE:LAC) Announces Quarterly Earnings Results

Lithium Americas (NYSE:LAC) announced its quarterly earnings data on Thursday. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.07, reports.

Lithium Americas Price Performance

NYSE LAC traded down $0.12 on Friday, hitting $5.02. The company had a trading volume of 11,316,721 shares, compared to its average volume of 13,325,903. The company has a market capitalization of $1.74 billion, a PE ratio of -12.25 and a beta of 2.50. The company’s fifty day moving average price is $4.61 and its 200-day moving average price is $4.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.16 and a quick ratio of 5.16. Lithium Americas has a 12-month low of $2.47 and a 12-month high of $10.52.

Institutional Investors Weigh In On Lithium Americas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its holdings in Lithium Americas by 149.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after acquiring an additional 3,550 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in Lithium Americas in the 2nd quarter worth $28,000. Walleye Capital LLC purchased a new stake in Lithium Americas in the 2nd quarter worth $28,000. Quarry LP purchased a new stake in Lithium Americas in the 3rd quarter worth $28,000. Finally, Kestra Advisory Services LLC purchased a new stake in Lithium Americas in the 4th quarter worth $42,000.

Analyst Ratings Changes

Several brokerages have commented on LAC. Scotiabank decreased their price objective on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research note on Monday, April 6th. Jefferies Financial Group restated a “buy” rating on shares of Lithium Americas in a research note on Monday, February 23rd. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lithium Americas currently has an average rating of “Hold” and a consensus target price of $5.71.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.