Lithium Americas (NYSE:LAC) Releases Quarterly Earnings Results

Lithium Americas (NYSE:LAC) issued its quarterly earnings results on Thursday. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02, Zacks reports.

Lithium Americas Stock Down 1.3%

Shares of NYSE:LAC traded down $0.04 during trading on Friday, hitting $3.38. 12,085,565 shares of the company were exchanged, compared to its average volume of 8,716,027. Lithium Americas has a fifty-two week low of $2.66 and a fifty-two week high of $10.52. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -9.15 and a beta of 2.57. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average price of $3.55 and a two-hundred day moving average price of $4.35.

Institutional Trading of Lithium Americas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Lithium Americas in the 3rd quarter valued at about $28,000. Steward Partners Investment Advisory LLC increased its position in Lithium Americas by 149.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after buying an additional 3,550 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Lithium Americas during the fourth quarter worth approximately $42,000. Great Valley Advisor Group Inc. bought a new stake in Lithium Americas in the fourth quarter valued at approximately $44,000. Finally, Walleye Capital LLC acquired a new stake in shares of Lithium Americas in the second quarter valued at approximately $28,000.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday. BMO Capital Markets cut their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “market perform” rating on the stock in a research report on Friday. Wedbush assumed coverage on shares of Lithium Americas in a report on Monday, April 20th. They set a “neutral” rating and a $8.00 target price for the company. Finally, The Goldman Sachs Group began coverage on shares of Lithium Americas in a research report on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 target price for the company. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and a consensus price target of $5.33.

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.