Lithium Americas (TSE:LAC) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Lithium Americas (TSE:LAC) announced its earnings results on Tuesday. The company reported C($0.02) EPS for the quarter, topping the consensus estimate of C($0.03) by C$0.01, reports.

Lithium Americas Price Performance

Shares of TSE LAC traded up C$0.20 during midday trading on Friday, reaching C$5.70. 1,286,564 shares of the company were exchanged, compared to its average volume of 797,716. The stock has a market cap of C$1.24 billion, a P/E ratio of -35.63 and a beta of 1.58. Lithium Americas has a one year low of C$2.87 and a one year high of C$10.75. The company has a quick ratio of 52.06, a current ratio of 20.15 and a debt-to-equity ratio of 0.69. The stock’s 50-day moving average price is C$4.03 and its 200-day moving average price is C$4.30.

Insider Buying and Selling at Lithium Americas

In other Lithium Americas news, Senior Officer Oleksandr Shulga sold 24,862 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$3.40, for a total value of C$84,530.80. Corporate insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

LAC has been the topic of a number of research reports. National Bankshares upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$5.75 to C$7.25 in a research note on Thursday, October 17th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Piper Sandler downgraded shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, National Bank Financial raised Lithium Americas from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$7.38.

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.