Lithium Americas Corp. (TSE:LAC – Get Free Report) dropped 4.2% during trading on Wednesday . The stock traded as low as C$4.74 and last traded at C$4.74. Approximately 197,365 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 739,701 shares. The stock had previously closed at C$4.95.
Analyst Upgrades and Downgrades
LAC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Lithium Americas from C$10.00 to C$7.50 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Eight Capital upgraded Lithium Americas to a “strong-buy” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$12.00.
Lithium Americas Stock Performance
The company has a market capitalization of C$994.64 million, a P/E ratio of -65.43 and a beta of 1.58. The company has a debt-to-equity ratio of 0.97, a current ratio of 8.38 and a quick ratio of 52.06. The company has a fifty day moving average price of C$7.37 and a two-hundred day moving average price of C$7.54.
Lithium Americas (TSE:LAC – Get Free Report) last released its quarterly earnings results on Friday, March 15th. The company reported C($0.11) earnings per share for the quarter, missing the consensus estimate of C($0.04) by C($0.07). Lithium Americas had a negative return on equity of 2.11% and a negative net margin of 160.61%. Equities analysts forecast that Lithium Americas Corp. will post 1.3803828 earnings per share for the current fiscal year.
Insider Activity at Lithium Americas
In related news, Director Jinhee Magie bought 8,000 shares of Lithium Americas stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average cost of C$6.48 per share, for a total transaction of C$51,840.00. 7.53% of the stock is currently owned by company 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.