Lithium Americas Corp. (TSE:LAC – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as C$2.43 and last traded at C$2.56, with a volume of 506,673 shares traded. The stock had previously closed at C$2.69.
Wall Street Analysts Forecast Growth
Several research firms have commented on LAC. National Bank Financial lowered their target price on shares of Lithium Americas from C$6.25 to C$5.25 and set a “sector perform” rating on the stock in a research report on Monday, October 19th. Canaccord Genuity Group upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating and cut their target price for the company from C$7.00 to C$5.25 in a report on Thursday, October 15th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$6.97.
View Our Latest Research Report on LAC
Lithium Americas Trading Down 8.2%
The company has a market capitalization of C$896.72 million, a price-to-earnings ratio of -5.37 and a beta of 3.32. The company has a 50-day moving average price of C$3.48 and a 200-day moving average price of C$5.30. 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 (TSE:LAC – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) 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%. Research analysts predict that Lithium Americas Corp. will post 1.38 EPS for the current fiscal year.
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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