Lithium Americas (NYSE:LAC) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Lithium Americas (NYSE:LAC) posted its quarterly earnings data on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02, Zacks reports.

Lithium Americas Stock Up 5.4%

NYSE LAC traded up $0.17 during mid-day trading on Thursday, reaching $3.44. The stock had a trading volume of 9,600,700 shares, compared to its average volume of 11,382,455. The stock has a market cap of $1.21 billion, a PE ratio of -8.38 and a beta of 2.57. The company has a fifty day moving average price of $3.60 and a 200 day moving average price of $4.38. Lithium Americas has a 1 year low of $2.66 and a 1 year high of $10.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 7.36.

Analysts Set New Price Targets

LAC has been the topic of a number of research reports. Wall Street Zen cut shares of Lithium Americas from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, July 24th. Scotia decreased their target price on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a research note on Monday, May 25th. The Goldman Sachs Group started coverage on shares of Lithium Americas in a report on Wednesday, July 1st. They set a “neutral” rating and a $4.50 target price for the company. Finally, Wedbush assumed 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 investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.44.

Hedge Funds Weigh In On Lithium Americas

Hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its holdings in shares of Lithium Americas by 149.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after acquiring an additional 3,550 shares during the last quarter. IHT Wealth Management LLC purchased a new stake in Lithium Americas in the second quarter worth approximately $28,000. Walleye Capital LLC bought a new stake in Lithium Americas in the 2nd quarter worth approximately $28,000. Quarry LP bought a new stake in Lithium Americas in the 3rd quarter worth approximately $28,000. Finally, Kestra Advisory Services LLC purchased a new stake in Lithium Americas during the 4th quarter valued at $42,000.

About Lithium Americas

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.