Lithium Americas (TSE:LAC) Share Price Passes Below 200 Day Moving Average – Here’s Why

Lithium Americas Corp. (TSE:LAC) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.69 and traded as low as C$4.30. Lithium Americas shares last traded at C$4.41, with a volume of 2,299,117 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised Lithium Americas to a “hold” rating in a research report on Wednesday, July 1st. Scotia upped their target price on Lithium Americas from C$8.50 to C$11.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. 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 equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$8.25.

Lithium Americas Stock Performance

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 stock has a market capitalization of C$1.47 billion, a PE ratio of -8.78 and a beta of 1.26. The firm has a 50 day moving average price of C$4.36 and a 200-day moving average price of C$5.67.

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

Lithium Americas Company Profile

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.