Lithium Americas (TSE:LAC) Reaches New 12-Month Low at $3.77

Lithium Americas Corp. (TSE:LAC) hit a new 52-week low on Thursday . The stock traded as low as C$3.77 and last traded at C$3.60, with a volume of 221527 shares changing hands. The stock had previously closed at C$3.74.

Analyst Ratings Changes

LAC has been the topic of a number of recent analyst reports. National Bank Financial upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, June 5th. Eight Capital raised shares of Lithium Americas to a “strong-buy” rating in a report on Tuesday, May 14th. Piper Sandler downgraded shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, National Bankshares set a C$7.00 price objective on shares of Lithium Americas and gave the company a “sector perform” rating in a research note on Thursday, June 6th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$9.00.

Lithium Americas Trading Down 4.8 %

The company has a market capitalization of C$773.13 million, a price-to-earnings ratio of -50.86 and a beta of 1.58. The company has a current ratio of 8.38, a quick ratio of 52.06 and a debt-to-equity ratio of 0.97. The business’s 50 day moving average price is C$4.02 and its two-hundred day moving average price is C$5.98.

Lithium Americas (TSE:LAC) last issued its earnings results on Monday, May 13th. The company reported C($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.04) by C($0.01). Lithium Americas had a negative net margin of 160.61% and a negative return on equity of 2.11%. On average, equities analysts predict that Lithium Americas Corp. will post 1.3803828 earnings per share for the current fiscal year.

Insider Activity

In other Lithium Americas news, Director John Kanellitsas purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was purchased at an average cost of C$3.89 per share, for a total transaction of C$194,500.00. In related news, Director John Kanellitsas purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was bought at an average price of C$3.89 per share, with a total value of C$194,500.00. Also, Senior Officer Samuel William Pigott acquired 30,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were bought at an average price of C$3.60 per share, with a total value of C$108,000.00. Over the last three months, insiders have bought 80,400 shares of company stock valued at $303,840. 7.53% of the stock is currently owned by corporate insiders.

Lithium Americas Company Profile

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.