Lithium Americas (NYSE:LAC) Issues Earnings Results, Misses Estimates By $0.02 EPS

Lithium Americas (NYSE:LAC) released its quarterly earnings data on Thursday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02), reports.

Lithium Americas Stock Down 6.4%

Shares of LAC traded down $0.10 during mid-day trading on Friday, hitting $1.52. 7,644,181 shares of the company’s stock were exchanged, compared to its average volume of 10,713,527. The firm has a fifty day moving average of $2.42 and a two-hundred day moving average of $3.78. Lithium Americas has a twelve month low of $1.50 and a twelve month high of $6.96. The stock has a market cap of $553.64 million, a price-to-earnings ratio of -4.12 and a beta of 2.74. The company has a quick ratio of 5.47, a current ratio of 5.47 and a debt-to-equity ratio of 0.81.

Analysts Set New Price Targets

LAC has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Lithium Americas in a research note on Wednesday, September 9th. They set an “overweight” rating and a $6.00 target price for the company. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. BMO Capital Markets set a $3.50 price target on shares of Lithium Americas in a research note on Tuesday, October 6th. Canaccord Genuity Group upgraded Lithium Americas from a “hold” rating to a “speculative buy” rating in a report on Thursday, October 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research report on Thursday, October 22nd. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lithium Americas has a consensus rating of “Hold” and a consensus price target of $5.25.

Top Lithium Americas Stories

Investors following LAC have been watching these stories:

• Positive Sentiment: The company reported that its third-quarter loss per share narrowed and highlighted a strong cash position, which could help support ongoing project development. Article: Lithium Americas Reports Q3 Results and Strong Cash Position
• Neutral Sentiment: Thacker Pass construction is advancing: engineering is complete and equipment procurement is more than 90% finished. Phase 1 is targeting completion in late 2027, with ramp-up expected in 2028 and planned annual capacity of 40,000 tonnes of lithium carbonate. Article: Analysts Offer Insights on Materials Companies
• Negative Sentiment: The main concern is project economics: Lithium Americas reset Thacker Pass Phase 1 capital costs to US$3.83 billion, a 31% increase. The higher funding requirement raises execution and financing risks, even as construction progresses. Article: Lithium Americas Says Thacker Pass Phase 1 Costs Up 31%

Lithium Americas Company Profile

Lithium Americas Corp. is a Canadian company focused on developing lithium resources in North America. Its principal project is Thacker Pass, a lithium deposit in Humboldt County, Nevada, where the company plans to mine and process lithium-bearing claystone. The planned operation is designed to produce lithium carbonate for use in electric-vehicle batteries and energy storage systems. The project is intended to serve the North American battery supply chain; Lithium Americas is developing the resource rather than operating it as a producing mine.