Lithium Americas (TSE:LAC) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Lithium Americas Corp. (TSE:LACGet Free Report)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$5.57 and traded as low as C$3.95. Lithium Americas shares last traded at C$4.05, with a volume of 1,424,749 shares changing hands.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Lithium Americas presently has an average rating of “Hold” and an average target price of C$8.25.

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Lithium Americas Stock Performance

The company has a market cap of C$1.45 billion, a P/E ratio of -8.70 and a beta of 1.26. The company has a quick ratio of 52.06, a current ratio of 5.47 and a debt-to-equity ratio of 81.68. The company has a 50 day moving average price of C$4.23 and a 200-day moving average price of C$5.56.

Lithium Americas (TSE:LACGet Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) earnings per share for the quarter. Lithium Americas had a net margin of 1,429,488,235.29% and a negative return on equity of 8.92%. Equities analysts expect that Lithium Americas Corp. will post 1.3803828 EPS for the current fiscal year.

Lithium Americas Company Profile

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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.

Further Reading

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