Lithium Americas (TSE:LAC) Sets New 52-Week Low at $3.18

Lithium Americas Corp. (TSE:LAC)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$3.18 and last traded at C$3.15, with a volume of 157974 shares changing hands. The stock had previously closed at C$3.17.

Analyst Ratings Changes

LAC has been the subject of several research analyst reports. Piper Sandler lowered shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. National Bankshares set a C$7.00 target price on Lithium Americas and gave the company a “sector perform” rating in a report on Thursday, June 6th. Eight Capital upgraded Lithium Americas to a “strong-buy” rating in a research note on Tuesday, May 14th. Finally, National Bank Financial raised Lithium Americas to a “hold” rating in a research note on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.00.

Lithium Americas Trading Down 2.5 %

The business’s 50-day moving average is C$3.87 and its two-hundred day moving average is C$5.87. 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 stock has a market capitalization of C$671.06 million, a PE ratio of -45.29 and a beta of 1.58.

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 the consensus estimate of C($0.04) by C($0.01). Lithium Americas had a negative return on equity of 2.11% and a negative net margin of 160.61%. On average, analysts predict that Lithium Americas Corp. will post 1.3803828 earnings per share for the current year.

Insider Buying and Selling at Lithium Americas

In other news, Senior Officer Samuel William Pigott purchased 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were purchased at an average price of C$3.60 per share, with a total value of C$108,000.00. In other news, Director John Kanellitsas bought 50,000 shares of Lithium Americas stock in a transaction on Tuesday, June 11th. The shares were 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 purchased 30,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was purchased at an average price of C$3.60 per share, with a total value of C$108,000.00. Insiders bought 80,400 shares of company stock valued at $303,840 over the last 90 days. 7.53% of the stock is owned by corporate insiders.

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.