Lithium Americas (TSE:LAC) Announces Earnings Results

Lithium Americas (TSE:LAC) issued its quarterly earnings results on Thursday. The company reported C($0.03) EPS for the quarter, FiscalAI reports. Lithium Americas had a negative return on equity of 12.63% and a net margin of 1,429,488,235.29%.

Lithium Americas Trading Down 1.1%

Shares of LAC opened at C$4.70 on Friday. Lithium Americas has a fifty-two week low of C$3.70 and a fifty-two week high of C$14.75. The business has a 50-day moving average of C$4.99 and a 200 day moving average of C$6.01. The firm has a market cap of C$1.71 billion, a P/E ratio of -10.22 and a beta of 1.26. The company has a debt-to-equity ratio of 65.10, a quick ratio of 52.06 and a current ratio of 7.36.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised Lithium Americas to a “hold” rating in a research report on Wednesday, July 1st. National Bank Financial reduced their price target on shares of Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating for the company in a research report on Friday, May 15th. Wedbush raised shares of Lithium Americas to a “hold” rating in a research report on Monday, April 20th. Finally, Scotia increased their target price on shares of 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. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$8.25.

About Lithium Americas

Lithium Americas is developing three lithium production assets, two brine resources located in northwestern Argentina and a clay resource in Nevada, U.S. While the company has no current lithium production, we expect the first Argentina resource, Cauchari-Olaroz, to enter production in late 2022. We expect the Nevada project, Thacker Pass, to enter production in the middle of the 2020s and the second brine resource, Pastos Grandes, to enter production in the late-2020s. Lithium Americas plans for all three resources to be fully integrated, selling into the lithium chemical market.