Lithium Americas (TSE:LAC) Sets New 12-Month Low – What’s Next?

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

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, July 1st. Two investment 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 a consensus target price of C$8.25.

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Lithium Americas Trading Down 6.0%

The business has a 50 day simple moving average of C$4.09 and a two-hundred day simple moving average of C$5.29. The company has a current ratio of 5.47, a quick ratio of 52.06 and a debt-to-equity ratio of 81.68. The stock has a market cap of C$1.14 billion, a price-to-earnings ratio of -6.80 and a beta of 3.45.

Lithium Americas (TSE:LAC – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) earnings per share (EPS) for the quarter. Lithium Americas had a negative return on equity of 8.92% and a net margin of 1,429,488,235.29%. As a group, equities analysts anticipate that Lithium Americas Corp. will post 1.38 EPS for the current year.

About Lithium Americas

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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.

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