Lithium Americas (TSE:LAC) Hits New 12-Month Low – What’s Next?

Lithium Americas Corp. (TSE:LAC)’s stock price reached a new 52-week low during trading on Thursday. The company traded as low as C$2.90 and last traded at C$2.94, with a volume of 157,355 shares trading hands. The stock had previously closed at C$3.02.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, July 1st. National Bank Financial lowered their price objective on Lithium Americas from C$6.25 to C$5.25 and set a “sector perform” rating for the company in a research report on Monday, October 19th. Finally, Canaccord Genuity Group raised Lithium Americas from a “hold” rating to a “moderate buy” rating and dropped their price objective for the company from C$7.00 to C$5.25 in a research note on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$7.17.

Lithium Americas Stock Down 1.4%

The company has a market cap of C$1.05 billion, a price-to-earnings ratio of -6.28 and a beta of 3.45. The stock’s 50-day moving average is C$3.83 and its 200-day moving average is C$5.14. The company has a current ratio of 5.47, a quick ratio of 52.06 and a debt-to-equity ratio of 81.68.

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 net margin of 1,429,488,235.29% and a negative return on equity of 8.92%. On average, analysts anticipate that Lithium Americas Corp. will post 1.38 earnings per share for the current fiscal year.

About Lithium Americas

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.