Lithium Americas (TSE:LAC) Announces Quarterly Earnings Results

Lithium Americas (TSE:LAC) posted its earnings results on Thursday. The company reported C($0.03) EPS for the quarter, FiscalAI reports. Lithium Americas had a negative return on equity of 12.63% and a net margin of 1,429,488,235.29%.

Lithium Americas Price Performance

Shares of Lithium Americas stock traded up C$0.20 on Thursday, hitting C$4.74. The company had a trading volume of 814,499 shares, compared to its average volume of 1,462,257. The business has a 50-day simple moving average of C$5.07 and a 200-day simple moving average of C$6.05. The company has a debt-to-equity ratio of 65.10, a current ratio of 7.36 and a quick ratio of 52.06. The company has a market cap of C$1.72 billion, a PE ratio of -10.53 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LAC shares. Scotia boosted their price objective on Lithium Americas from C$8.50 to C$11.00 and gave the stock 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 research report on Wednesday, July 1st. Wedbush upgraded Lithium Americas to a “hold” rating in a research report on Monday, April 20th. Finally, National Bank Financial decreased their price target on Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating for the company in a research note on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Lithium Americas has an average rating of “Hold” and a consensus price target of C$8.25.

About Lithium Americas

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.