Lithium Americas (NYSE:LAC) Issues Earnings Results

Lithium Americas (NYSE:LAC) posted its earnings results on Thursday. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.33), Zacks reports.

Lithium Americas Trading Down 4.6%

Shares of NYSE LAC traded down $0.19 during trading on Friday, reaching $3.83. The stock had a trading volume of 1,331,761 shares, compared to its average volume of 13,153,298. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77. The company has a market cap of $1.16 billion, a P/E ratio of -3.65 and a beta of 1.49. Lithium Americas has a fifty-two week low of $2.31 and a fifty-two week high of $10.52. The business’s 50-day moving average price is $5.05 and its 200-day moving average price is $5.18.

Analyst Ratings Changes

A number of analysts recently issued reports on LAC shares. Cormark raised Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Wednesday, January 28th. Scotiabank increased their target price on shares of Lithium Americas from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, January 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Finally, TD Securities raised shares of Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in Lithium Americas during the 3rd quarter worth approximately $28,000. Steward Partners Investment Advisory LLC lifted its holdings in Lithium Americas by 149.2% during the 4th 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 in the last quarter. Kestra Advisory Services LLC purchased a new position in Lithium Americas in the 4th quarter valued at approximately $42,000. Great Valley Advisor Group Inc. purchased a new position in Lithium Americas in the 4th quarter valued at approximately $44,000. Finally, Walleye Capital LLC acquired a new position in shares of Lithium Americas in the second quarter worth $28,000.

About Lithium Americas

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.