Lithium Americas (NYSE:LAC) Releases Quarterly Earnings Results

Lithium Americas (NYSE:LAC) announced its earnings results on Friday. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09), Zacks reports.

Lithium Americas Stock Performance

LAC traded down $0.16 during midday trading on Friday, hitting $2.72. The stock had a trading volume of 4,197,767 shares, compared to its average volume of 5,658,574. The company has a market cap of $599.16 million, a P/E ratio of -22.63 and a beta of 1.77. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $7.71. The business has a fifty day moving average of $2.96 and a 200 day moving average of $3.17.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wedbush started coverage on Lithium Americas in a research report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price objective on the stock. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler lowered their price target on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lithium Americas has an average rating of “Hold” and an average price target of $4.80.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.