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

Lithium Americas (NYSE:LAC) announced its quarterly earnings data on Friday. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09), Zacks reports.

Lithium Americas Price Performance

NYSE LAC traded down $0.16 during trading hours on Friday, hitting $2.72. 4,197,767 shares of the company’s stock traded hands, compared to its average volume of 5,658,574. The company has a market capitalization of $599.16 million, a PE ratio of -22.63 and a beta of 1.77. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $7.71. The firm’s 50-day moving average is $2.96 and its 200-day moving average is $3.17.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LAC. Cormark raised Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. Piper Sandler lowered their price objective on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Wedbush assumed coverage on shares of Lithium Americas in a research note 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.