Lithium Americas Corp (NYSE:LAC)’s share price was up 8.6% during mid-day trading on Wednesday . The company traded as high as $3.52 and last traded at $3.52, approximately 219,569 shares traded hands during mid-day trading. An increase of 24% from the average daily volume of 176,999 shares. The stock had previously closed at $3.24.
Separately, Zacks Investment Research raised shares of Lithium Americas from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Friday, August 23rd.
The firm has a market cap of $314.79 million, a PE ratio of -14.04 and a beta of 1.34. The company has a debt-to-equity ratio of 1.13, a quick ratio of 7.55 and a current ratio of 7.87. The company’s 50-day simple moving average is $3.47 and its two-hundred day simple moving average is $3.86.
Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.07) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07). The business had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $1.55 million. Lithium Americas had a negative net margin of 497.84% and a negative return on equity of 27.94%. On average, analysts expect that Lithium Americas Corp will post -0.31 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank boosted its position in Lithium Americas by 87.3% during the 1st quarter. Toronto Dominion Bank now owns 9,547 shares of the company’s stock valued at $35,000 after buying an additional 4,451 shares during the period. Signition LP purchased a new stake in Lithium Americas during the 2nd quarter valued at $48,000. A.R.T. Advisors LLC purchased a new stake in Lithium Americas during the 2nd quarter valued at $50,000. Millennium Management LLC boosted its position in Lithium Americas by 37.8% during the 4th quarter. Millennium Management LLC now owns 19,605 shares of the company’s stock valued at $62,000 after buying an additional 5,379 shares during the period. Finally, Citadel Advisors LLC boosted its position in Lithium Americas by 34.6% during the 2nd quarter. Citadel Advisors LLC now owns 16,735 shares of the company’s stock valued at $68,000 after buying an additional 4,301 shares during the period. 5.94% of the stock is owned by institutional investors and hedge funds.
About Lithium Americas (NYSE:LAC)
Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It primarily holds interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and owns a 100% interest in the Thacker Pass lithium project located in Nevada. The company also manufactures and sells organoclay products that are used in complex oil and gas drilling and other applications.
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