Lithium Americas (TSE:LAC) Hits New 1-Year Low – Time to Sell?

Lithium Americas Corp. (TSE:LAC)’s share price reached a new 52-week low 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. The stock had previously closed at C$3.02.

Analyst Ratings Changes

LAC has been the subject of several analyst reports. The Goldman Sachs Group raised shares of Lithium Americas to a “hold” rating in a report on Wednesday, July 1st. Canaccord Genuity Group upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating and reduced their price target for the company from C$7.00 to C$5.25 in a research report on Thursday, October 15th. Finally, National Bank Financial decreased their price target on shares of Lithium Americas from C$6.25 to C$5.25 and set a “sector perform” rating on the stock in a report on Monday. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and an average target price of C$7.17.

Lithium Americas Trading Down 3.0%

The stock has a market cap of C$1.06 billion, a P/E ratio of -6.37 and a beta of 3.45. 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 stock has a 50-day moving average price of C$3.90 and a 200-day moving average price of C$5.18.

Lithium Americas (TSE:LAC) last issued its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) EPS for the quarter. Lithium Americas had a negative return on equity of 8.92% and a net margin of 1,429,488,235.29%. On average, equities research analysts expect that Lithium Americas Corp. will post 1.38 EPS for the current 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.