Lithium Americas (NYSE:LAC) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Lithium Americas (NYSE:LACGet Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01), Zacks reports.

Lithium Americas Price Performance

LAC opened at $2.82 on Friday. The company has a market cap of $615.60 million, a price-to-earnings ratio of -23.46 and a beta of 0.89. The firm has a 50 day simple moving average of $2.84 and a 200 day simple moving average of $3.17. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $5.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Lithium Americas in a research note on Friday. National Bankshares reaffirmed an “outperform” rating on shares of Lithium Americas in a research note on Wednesday, April 2nd. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Evercore ISI assumed coverage on shares of Lithium Americas in a research note on Thursday, April 17th. They issued an “outperform” rating and a $4.50 target price for the company. Finally, Scotiabank dropped their target price on shares of Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating for the company in a research note on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.88.

View Our Latest Report on LAC

Institutional Investors Weigh In On Lithium Americas

An institutional investor recently raised its position in Lithium Americas stock. Goldman Sachs Group Inc. boosted its position in shares of Lithium Americas Corp. (NYSE:LACFree Report) by 44.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,046,556 shares of the company’s stock after purchasing an additional 324,518 shares during the quarter. Goldman Sachs Group Inc. owned 0.48% of Lithium Americas worth $2,836,000 as of its most recent SEC filing.

Lithium Americas Company Profile

(Get Free Report)

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.

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Earnings History for Lithium Americas (NYSE:LAC)

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