Lithium Americas (TSE:LAC) Sets New 1-Year Low – Here’s Why

Lithium Americas Corp. (TSE:LAC) shares reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as C$3.10 and last traded at C$3.11, with a volume of 773,905 shares trading hands. The stock had previously closed at C$3.33.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$8.25.

Lithium Americas Stock Down 5.7%

The business’s fifty day moving average price is C$4.04 and its 200 day moving average price is C$5.26. The company has a market capitalization of C$1.08 billion, a P/E ratio of -6.46 and a beta of 3.45. 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 posted its earnings results 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%. As a group, equities research analysts predict 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.