Lithium Americas (NYSE:LAC) Issues Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Lithium Americas (NYSE:LAC) issued its quarterly earnings results on Friday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09), Zacks reports.

Lithium Americas Price Performance

Shares of NYSE:LAC traded down $0.16 on Friday, reaching $2.72. The company’s stock had a trading volume of 4,197,767 shares, compared to its average volume of 5,658,574. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $7.71. The stock has a market capitalization of $599.16 million, a P/E ratio of -22.63 and a beta of 1.77. The stock’s 50-day moving average is $2.96 and its two-hundred day moving average is $3.17.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LAC. Piper Sandler lowered their price objective on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Finally, Wedbush initiated coverage on shares of Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 target price for the company. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.80.

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.