Lithium Americas (TSE:LAC – Get Free Report) released its quarterly earnings data on Thursday. The company reported C($0.07) earnings per share for the quarter, FiscalAI reports. Lithium Americas had a negative return on equity of 8.92% and a net margin of 1,429,488,235.29%.
Lithium Americas Stock Down 2.5%
Shares of TSE:LAC opened at C$2.30 on Friday. The stock has a market cap of C$835.00 million, a price-to-earnings ratio of -5.00 and a beta of 3.32. The company has a quick ratio of 52.06, a current ratio of 5.47 and a debt-to-equity ratio of 81.68. Lithium Americas has a 12-month low of C$2.15 and a 12-month high of C$9.47. The business’s 50 day moving average is C$3.40 and its 200 day moving average is C$5.23.
Analysts Set New Price Targets
LAC has been the subject of a number of analyst reports. National Bank Financial reduced their price objective on shares of Lithium Americas from C$6.25 to C$5.25 and set a “sector perform” rating for the company in a report on Monday, October 19th. Canaccord Genuity Group upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating and lowered their target price for the stock from C$7.00 to C$5.25 in a report on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$6.97.
Get Our Latest Analysis on LAC
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. DOE and strategic investments from GM and Orion.
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