Lithium Americas (TSE:LAC – Get Free Report) announced its earnings results on Thursday. The company reported C($0.03) earnings per share for the quarter, FiscalAI reports. Lithium Americas had a net margin of 1,429,488,235.29% and a negative return on equity of 12.63%.
Lithium Americas Stock Performance
Shares of LAC traded up C$0.09 during mid-day trading on Friday, hitting C$4.84. 496,200 shares of the company’s stock were exchanged, compared to its average volume of 1,458,511. The company has a quick ratio of 52.06, a current ratio of 7.36 and a debt-to-equity ratio of 65.10. The firm has a market cap of C$1.76 billion, a price-to-earnings ratio of -10.76 and a beta of 1.26. Lithium Americas has a 52 week low of C$3.70 and a 52 week high of C$14.75. The stock’s 50-day simple moving average is C$5.02 and its 200-day simple moving average is C$6.02.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. National Bank Financial cut their price objective on Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating on the stock in a research note on Friday, May 15th. Scotia upped their price target on shares of Lithium Americas from C$8.50 to C$11.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. The Goldman Sachs Group upgraded Lithium Americas to a “hold” rating in a report on Wednesday, July 1st. Finally, Wedbush upgraded Lithium Americas to a “hold” rating in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and a consensus target price of C$8.25.
Lithium Americas Company Profile
Lithium Americas is developing three lithium production assets, two brine resources located in northwestern Argentina and a clay resource in Nevada, U.S. While the company has no current lithium production, we expect the first Argentina resource, Cauchari-Olaroz, to enter production in late 2022. We expect the Nevada project, Thacker Pass, to enter production in the middle of the 2020s and the second brine resource, Pastos Grandes, to enter production in the late-2020s. Lithium Americas plans for all three resources to be fully integrated, selling into the lithium chemical market.
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