Lithium Americas (NYSE:LAC) Issues Earnings Results

Key Points

• Lithium Americas reported a quarterly loss of $0.02 per share, beating analysts’ expected loss of $0.04 per share by $0.02.
• The stock rose 5.4% to $3.44, although it remains well below its 12-month high of $10.52 and has a market capitalization of approximately $1.21 billion.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $5.44; two analysts recommend buying, nine advise holding, and one rates it a sell.

Lithium Americas (NYSE:LAC - Get Free Report) 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%

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LAC. Wedbush began coverage on Lithium Americas in a report on Monday, April 20th. They set a "neutral" rating and a $8.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Lithium Americas in a research note on Wednesday, July 1st. They issued a "neutral" rating and a $4.50 price objective for the company. Scotia cut their target price on Lithium Americas from $5.00 to $4.50 and set a "sector perform" rating for the company in a research report on Monday, May 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lithium Americas in a research note on Friday, July 24th. Finally, Wall Street Zen cut Lithium Americas from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $5.44.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds have recently made changes to their positions in LAC. Jump Financial LLC purchased a new position in shares of Lithium Americas during the fourth quarter valued at about $61,000. Public Sector Pension Investment Board purchased a new stake in Lithium Americas in the fourth quarter worth about $66,000. Helium Advisors LLC bought a new stake in Lithium Americas during the 4th quarter valued at approximately $58,000. Sprott Inc. boosted its position in Lithium Americas by 18.7% during the 4th quarter. Sprott Inc. now owns 16,087 shares of the company's stock valued at $70,000 after acquiring an additional 2,540 shares in the last quarter. Finally, IFC & Insurance Marketing Inc. purchased a new position in shares of Lithium Americas during the 4th quarter worth approximately $60,000.

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.

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