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

Lithium Americas (TSE:LAC) released its quarterly earnings results on Tuesday. The company reported C($0.02) EPS for the quarter, beating analysts’ consensus estimates of C($0.03) by C$0.01, reports.

Lithium Americas Stock Up 3.6 %

Shares of Lithium Americas stock traded up C$0.20 on Friday, reaching C$5.70. The company’s stock had a trading volume of 1,286,564 shares, compared to its average volume of 797,716. Lithium Americas has a 52 week low of C$2.87 and a 52 week high of C$10.75. The firm’s fifty day simple moving average is C$4.03 and its two-hundred day simple moving average is C$4.30. The company has a market capitalization of C$1.24 billion, a price-to-earnings ratio of -35.63 and a beta of 1.58. The company has a quick ratio of 52.06, a current ratio of 20.15 and a debt-to-equity ratio of 0.69.

Insider Buying and Selling at Lithium Americas

In related news, Senior Officer Oleksandr Shulga sold 24,862 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$3.40, for a total value of C$84,530.80. Company insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. National Bank Financial raised Lithium Americas from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Piper Sandler cut Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. National Bankshares raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$5.75 to C$7.25 in a research note on Thursday, October 17th. Finally, BMO Capital Markets raised Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$7.38.

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.