Lithium Americas (TSE:LAC) Hits New 52-Week Low – Time to Sell?

Lithium Americas Corp. (TSE:LAC) shares reached a new 52-week low during trading on Tuesday. The company traded as low as C$3.10 and last traded at C$3.11, with a volume of 773,905 shares changing hands. The stock had previously closed at C$3.33.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$8.25.

Lithium Americas Stock Performance

The company has a debt-to-equity ratio of 81.68, a current ratio of 5.47 and a quick ratio of 52.06. The firm has a market cap of C$1.14 billion, a PE ratio of -6.80 and a beta of 3.45. The stock has a 50-day moving average price of C$4.09 and a 200 day moving average price of C$5.29.

Lithium Americas (TSE:LAC) last announced its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) earnings per share for the quarter. Lithium Americas had a negative return on equity of 8.92% and a net margin of 1,429,488,235.29%. Research analysts forecast that Lithium Americas Corp. will post 1.38 earnings per share for the current year.

Lithium Americas Company Profile

Lithium Americas is building Thacker Pass located in Humboldt County in northern Nevada. Phase 1 is designed for nominal production capacity of 40,000 tonnes per year of battery-quality lithium carbonate, and mechanical completion is targeted for late 2027. Thacker Pass hosts the largest known measured lithium resource (Measured and Indicated) in the world and is owned by a JV between Lithium Americas (holding a 62% interest), and GM (holding a 38% interest). Project financing for Phase 1 includes a $2.23 billion loan from the U.S.