Lithium Americas (NYSE:LAC) Releases Earnings Results

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) announced its quarterly earnings data on Thursday. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02), Zacks reports.

Lithium Americas Price Performance

Shares of LAC traded down $0.09 during trading hours on Thursday, reaching $2.86. 10,554,453 shares of the company's stock traded hands, compared to its average volume of 10,892,222. The stock has a market cap of $625.84 million, a PE ratio of -17.87 and a beta of 0.68. The company has a current ratio of 10.35, a quick ratio of 10.35 and a debt-to-equity ratio of 0.02. The firm's 50 day simple moving average is $2.79 and its 200-day simple moving average is $2.83. Lithium Americas has a 12 month low of $2.11 and a 12 month high of $5.20.

Institutional Trading of Lithium Americas

Hedge funds have recently bought and sold shares of the company. Walleye Capital LLC bought a new stake in Lithium Americas in the 2nd quarter worth approximately $28,000. Diversify Advisory Services LLC bought a new stake in Lithium Americas in the second quarter valued at approximately $51,000. Marshall Wace LLP bought a new stake in Lithium Americas in the second quarter valued at approximately $105,000. Raymond James Financial Inc. lifted its position in Lithium Americas by 30.3% in the second quarter. Raymond James Financial Inc. now owns 41,301 shares of the company's stock valued at $111,000 after purchasing an additional 9,615 shares during the last quarter. Finally, Creative Planning lifted its position in Lithium Americas by 18.4% in the second quarter. Creative Planning now owns 48,936 shares of the company's stock valued at $131,000 after purchasing an additional 7,610 shares during the last quarter.

Wall Street Analyst Weigh In

LAC has been the topic of several research analyst reports. Wedbush reissued a "neutral" rating and set a $5.00 target price on shares of Lithium Americas in a research note on Friday, May 16th. National Bankshares cut Lithium Americas from an "outperform" rating to a "sector perform" rating in a report on Friday, May 16th. National Bank Financial cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Finally, Evercore ISI initiated coverage on Lithium Americas in a report on Thursday, April 17th. They issued an "outperform" rating and a $4.50 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Lithium Americas presently has a consensus rating of "Hold" and a consensus target price of $3.88.

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.

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