Lithium Americas (NYSE:LAC) Releases Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Lithium Americas reported a quarterly earnings per share (EPS) of ($0.06), missing the consensus estimate of ($0.04) by ($0.02).
• The company's stock closed down at $2.86, with a market cap of approximately $625.84 million and a current ratio of 10.35.
• Analysts have rated the stock as "Hold" with a consensus target price of $3.88, following various rating updates from multiple financial institutions.

Lithium Americas (NYSE:LAC - Get Free Report) posted its earnings results on Thursday. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02), Zacks reports.

Lithium Americas Stock Performance

LAC stock traded down $0.1150 during trading on Tuesday, hitting $2.8150. 4,807,653 shares of the company's stock traded hands, compared to its average volume of 5,616,991. The company has a quick ratio of 10.35, a current ratio of 10.35 and a debt-to-equity ratio of 0.02. Lithium Americas has a 52 week low of $2.11 and a 52 week high of $5.20. The stock has a fifty day moving average price of $2.80 and a two-hundred day moving average price of $2.83. The stock has a market capitalization of $616.20 million, a price-to-earnings ratio of -12.24 and a beta of 0.68.

Institutional Trading of Lithium Americas

Several institutional investors have recently added to or reduced their stakes in LAC. Walleye Capital LLC bought a new position in shares of Lithium Americas during the second quarter worth about $28,000. IHT Wealth Management LLC acquired a new stake in Lithium Americas in the second quarter worth about $28,000. Diversify Advisory Services LLC acquired a new position in Lithium Americas during the second quarter worth about $51,000. Tower Research Capital LLC TRC grew its holdings in Lithium Americas by 72.4% during the second quarter. Tower Research Capital LLC TRC now owns 35,998 shares of the company's stock worth $96,000 after acquiring an additional 15,123 shares during the period. Finally, Marshall Wace LLP acquired a new position in Lithium Americas during the second quarter worth about $105,000.

Analyst Ratings Changes

A number of research firms have recently commented on LAC. National Bank Financial cut shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Wedbush reissued a "neutral" rating and set a $5.00 target price on shares of Lithium Americas in a research report on Friday, May 16th. Finally, National Bankshares cut shares of Lithium Americas from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $4.15.

About Lithium Americas

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.