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

Lithium Americas (NYSE:LAC) posted its quarterly 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 Trading Down 5.4 %

Shares of LAC stock traded down $0.16 during midday trading on Friday, reaching $2.72. 4,197,767 shares of the stock were exchanged, compared to its average volume of 5,658,574. The firm has a market cap of $599.16 million, a PE ratio of -22.63 and a beta of 1.77. The company’s 50 day moving average is $2.96 and its two-hundred day moving average is $3.17. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $7.71.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LAC. Wedbush began coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They set a “neutral” rating and a $5.00 price objective for the company. Piper Sandler lowered their price target 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. Finally, Cormark upgraded Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.