Lithium Americas (TSE:LAC) Shares Pass Below 200 Day Moving Average of $5.13

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Shares of Lithium Americas Corp (TSE:LAC) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.13 and traded as low as $4.67. Lithium Americas shares last traded at $4.83, with a volume of 48,471 shares changing hands.

A number of equities research analysts have recently issued reports on LAC shares. Roth Capital reaffirmed a “buy” rating on shares of Lithium Americas in a report on Monday, August 19th. National Bank Financial dropped their target price on shares of Lithium Americas from C$8.50 to C$6.25 and set an “outperform” rating on the stock in a report on Thursday, May 23rd.

The company has a debt-to-equity ratio of 116.08, a quick ratio of 7.29 and a current ratio of 7.88. The stock’s fifty day moving average price is C$4.60 and its 200-day moving average price is C$5.13. The company has a market capitalization of $416.76 million and a P/E ratio of -15.08.

Lithium Americas (TSE:LAC) last issued its earnings results on Tuesday, August 13th. The company reported C($0.09) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of C($0.09). The firm had revenue of C$1.99 million during the quarter, compared to the consensus estimate of C$2.08 million. On average, research analysts predict that Lithium Americas Corp will post -0.28 EPS for the current fiscal year.

About Lithium Americas (TSE:LAC)

Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It primarily holds interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and owns a 100% interest in the Thacker Pass lithium project located in Nevada. The company also manufactures and sells organoclay products that are used in complex oil and gas drilling and other applications.

Further Reading: What Factors Can Affect Return on Equity?

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