Lithium Americas (TSE:LAC) Reaches New 52-Week Low – Here’s Why

Lithium Americas Corp. (TSE:LAC) shares reached a new 52-week low during trading on Monday. The stock traded as low as C$3.77 and last traded at C$3.83, with a volume of 350852 shares. The stock had previously closed at C$3.90.

Wall Street Analysts Forecast Growth

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

Lithium Americas Stock Down 1.8%

The firm has a market cap of C$1.39 billion, a PE ratio of -8.33 and a beta of 1.26. The company has a debt-to-equity ratio of 81.68, a quick ratio of 52.06 and a current ratio of 5.47. The company’s 50-day simple moving average is C$4.20 and its two-hundred day simple moving average is C$5.47.

Lithium Americas (TSE:LAC) last released its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) earnings per share (EPS) 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 predict that Lithium Americas Corp. will post 1.3803828 earnings per share for the current fiscal 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.