Lithium Americas (TSE:LAC) Issues Quarterly Earnings Results

Lithium Americas (TSE:LAC) issued its earnings results on Thursday. The company reported C($0.07) earnings per share (EPS) for the quarter, FiscalAI reports. Lithium Americas had a negative return on equity of 8.92% and a net margin of 1,429,488,235.29%.

Lithium Americas Stock Performance

Shares of TSE:LAC traded down C$0.06 during trading on Thursday, reaching C$2.30. 2,293,196 shares of the company’s stock traded hands, compared to its average volume of 1,402,353. The stock has a market capitalization of C$835.00 million, a P/E ratio of -5.00 and a beta of 3.32. Lithium Americas has a 12 month low of C$2.15 and a 12 month high of C$9.47. The company has a 50 day moving average of C$3.44 and a 200-day moving average of C$5.26. The company has a debt-to-equity ratio of 81.68, a current ratio of 5.47 and a quick ratio of 52.06.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LAC shares. Canaccord Genuity Group upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating and reduced their target price for the stock from C$7.00 to C$5.25 in a research report on Thursday, October 15th. National Bank Financial lowered their price target on Lithium Americas from C$6.25 to C$5.25 and set a “sector perform” rating for the company in a report on Monday, October 19th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$6.97.

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. DOE and strategic investments from GM and Orion.