Lithium Americas (TSE:LAC) Reaches New 12-Month Low – Here’s Why

Lithium Americas Corp. (TSE:LAC) shares reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as C$2.55 and last traded at C$2.57, with a volume of 474,515 shares trading hands. The stock had previously closed at C$2.73.

Analyst Upgrades and Downgrades

LAC has been the topic of several recent research reports. Canaccord Genuity Group raised Lithium Americas from a “hold” rating to a “moderate buy” rating and cut their price target for the stock from C$7.00 to C$5.25 in a report on Thursday, October 15th. National Bank Financial cut their price objective 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 analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and an average price target of C$7.17.

Lithium Americas Stock Down 7.0%

The business has a 50 day simple moving average of C$3.61 and a 200 day simple moving average of C$5.40. The stock has a market cap of C$922.13 million, a PE ratio of -5.52 and a beta of 3.45. The company has a debt-to-equity ratio of 81.68, a current ratio of 5.47 and a quick ratio of 52.06.

Lithium Americas (TSE:LAC) last issued its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) earnings per share for the quarter. Lithium Americas had a net margin of 1,429,488,235.29% and a negative return on equity of 8.92%. On average, equities research analysts forecast that Lithium Americas Corp. will post 1.38 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.