Lithium Americas (TSE:LAC) Sets New 52-Week Low – Here’s What Happened

Lithium Americas Corp. (TSE:LAC)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as C$2.43 and last traded at C$2.56, with a volume of 506,673 shares trading hands. The stock had previously closed at C$2.69.

Analyst Upgrades and Downgrades

LAC has been the subject of several recent analyst reports. Canaccord Genuity Group upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating and reduced their target price for the stock from C$7.00 to C$5.25 in a research report on Thursday, October 15th. National Bank Financial lowered their price target on Lithium Americas from C$6.25 to C$5.25 and set a “sector perform” rating on the stock in a report on Monday, October 19th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$6.97.

Lithium Americas Trading Down 2.5%

The company has a market capitalization of C$835.00 million, a PE ratio of -5.00 and a beta of 3.32. 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 fifty day moving average of C$3.40 and a two-hundred day moving average of C$5.23.

Lithium Americas (TSE:LAC) last released its earnings results on Thursday, November 12th. The company reported C($0.07) earnings per share 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, sell-side analysts anticipate that Lithium Americas Corp. will post 1.38 earnings per share 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.