Lithium Americas (NYSE:LAC) Announces Earnings Results, Beats Estimates By $0.07 EPS

Lithium Americas (NYSE:LAC) posted its earnings results on Thursday. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.07, reports.

Lithium Americas Price Performance

Shares of NYSE LAC traded down $0.12 during trading on Friday, reaching $5.02. The company had a trading volume of 11,316,721 shares, compared to its average volume of 13,325,903. Lithium Americas has a 52 week low of $2.47 and a 52 week high of $10.52. The stock has a market cap of $1.74 billion, a PE ratio of -12.25 and a beta of 2.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.16 and a current ratio of 5.16. The business’s 50 day moving average price is $4.61 and its 200-day moving average price is $4.93.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors have recently modified their holdings of LAC. Goldman Sachs Group Inc. grew its position in shares of Lithium Americas by 44.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock worth $2,836,000 after buying an additional 324,518 shares during the period. Creative Planning grew its position in shares of Lithium Americas by 18.4% during the 2nd quarter. Creative Planning now owns 48,936 shares of the company’s stock worth $131,000 after buying an additional 7,610 shares during the period. Invesco Ltd. grew its position in shares of Lithium Americas by 38.0% during the 2nd quarter. Invesco Ltd. now owns 1,666,561 shares of the company’s stock worth $4,466,000 after buying an additional 459,252 shares during the period. Walleye Capital LLC acquired a new stake in shares of Lithium Americas during the 2nd quarter worth approximately $28,000. Finally, Marshall Wace LLP acquired a new stake in shares of Lithium Americas during the 2nd quarter worth approximately $105,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LAC shares. Scotiabank decreased their price target on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Wedbush started coverage on shares of Lithium Americas in a report on Monday, April 20th. They set a “neutral” rating and a $8.00 price objective for the company. TD Securities raised shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. Finally, Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.71.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.