Lithium Americas (TSE:LAC) Hits New 12-Month Low – What’s Next?

Lithium Americas Corp. (TSE:LAC)’s share price hit a new 52-week low on Monday. The stock traded as low as C$3.56 and last traded at C$3.62, with a volume of 339755 shares trading hands. The stock had previously closed at C$3.61.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised Lithium Americas to a “hold” rating in a report on Wednesday, July 1st. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$8.25.

Lithium Americas Stock Down 0.6%

The firm has a market cap of C$1.31 billion, a price-to-earnings ratio of -7.83 and a beta of 3.45. The business has a fifty day simple moving average of C$4.14 and a 200 day simple moving average of C$5.35. 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 results on Thursday, August 13th. The company reported C($0.03) earnings per share (EPS) for the quarter. Lithium Americas had a negative return on equity of 8.92% and a net margin of 1,429,488,235.29%. As a group, equities analysts forecast that Lithium Americas Corp. will post 1.3803828 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.