Lithium Americas (NYSE:LAC) Posts Quarterly Earnings Results

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

Lithium Americas Stock Down 5.4 %

Shares of NYSE:LAC opened at $2.72 on Friday. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $7.71. The firm’s 50-day simple moving average is $2.96 and its 200-day simple moving average is $3.18. The company has a market cap of $599.16 million, a price-to-earnings ratio of -22.63 and a beta of 1.77.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LAC shares. Wedbush assumed coverage on Lithium Americas in a research note on Thursday, December 19th. They set a “neutral” rating and a $5.00 price target on the stock. Piper Sandler cut their target price on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.