Lithium Americas (NYSE:LAC) Announces Quarterly Earnings Results

Lithium Americas (NYSE:LAC) posted its earnings results on Thursday. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.07, reports.

Lithium Americas Stock Performance

Shares of NYSE:LAC traded down $0.12 during midday trading on Friday, hitting $5.02. The company’s stock had a trading volume of 11,316,721 shares, compared to its average volume of 13,325,903. Lithium Americas has a fifty-two week low of $2.47 and a fifty-two week high of $10.52. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -12.25 and a beta of 2.50. The stock’s 50 day simple moving average is $4.61 and its 200 day simple moving average is $4.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.16 and a current ratio of 5.16.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LAC shares. Jefferies Financial Group restated a “buy” rating on shares of Lithium Americas in a report on Monday, February 23rd. Scotiabank lowered their price target on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Monday, April 6th. TD Securities raised Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Finally, Wedbush began coverage on Lithium Americas in a research report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price target on the stock. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and a consensus price target of $5.71.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Lithium Americas by 20.8% during the fourth quarter. Van ECK Associates Corp now owns 17,495,908 shares of the company’s stock worth $76,282,000 after buying an additional 3,016,293 shares in the last quarter. Millennium Management LLC grew its position in Lithium Americas by 35.8% during the fourth quarter. Millennium Management LLC now owns 4,489,568 shares of the company’s stock worth $19,575,000 after buying an additional 1,182,465 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Lithium Americas by 1.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock worth $7,350,000 after buying an additional 45,941 shares in the last quarter. Invesco Ltd. grew its position in Lithium Americas by 44.3% during the third quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock worth $13,736,000 after buying an additional 739,007 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in Lithium Americas during the fourth quarter worth about $6,055,000.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.