Lithium Americas Corp (NewCo) (NYSE: LAC)’s stock price has plunge by -6.26relation to previous closing price of 2.40. Nevertheless, the company has seen a -16.99% plunge in its stock price over the last five trading sessions. prnewswire.com reported 2024-07-31 that Consolidated Q2 2024 Highlights: Operating profit of $7.4 million increased from $1.8 million in Q2 2023 Includes $4.5 million gain on sale of an asset Income before taxes of $6.2 million increased from $3.3 million in Q2 2023 Net income of $6.0 million, or $0.81/share versus $2.5 million, or $0.34/share, in Q2 2023 CLEVELAND, July 31, 2024 /PRNewswire/ — NACCO Industries® (NYSE: NC) today announced the following consolidated results for the three months ended June 30, 2024. Comparisons in this news release are to the three months ended June 30, 2023, unless otherwise noted.
Is It Worth Investing in Lithium Americas Corp (NewCo) (NYSE: LAC) Right Now?
There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for LAC is 185.62M and currently, short sellers hold a 10.31% ratio of that float. The average trading volume of LAC on August 05, 2024 was 4.62M shares.
LAC’s Market Performance
LAC’s stock has seen a -16.99% decrease for the week, with a -15.11% drop in the past month and a -49.90% fall in the past quarter. The volatility ratio for the week is 7.35%, and the volatility levels for the past 30 days are at 6.65% for Lithium Americas Corp (NewCo) The simple moving average for the past 20 days is -18.12% for LAC’s stock, with a -55.74% simple moving average for the past 200 days.
Analysts’ Opinion of LAC
Many brokerage firms have already submitted their reports for LAC stocks, with Piper Sandler repeating the rating for LAC by listing it as a “Neutral.” The predicted price for LAC in the upcoming period, according to Piper Sandler is $3.90 based on the research report published on July 29, 2024 of the current year 2024.
Scotiabank, on the other hand, stated in their research note that they expect to see LAC reach a price target of $7, previously predicting the price at $15. The rating they have provided for LAC stocks is “Sector Perform” according to the report published on March 18th, 2024.
JP Morgan gave a rating of “Neutral” to LAC, setting the target price at $7 in the report published on December 11th of the previous year.
LAC Trading at -23.13% from the 50-Day Moving Average
After a stumble in the market that brought LAC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -81.83% of loss for the given period.
Volatility was left at 6.65%, however, over the last 30 days, the volatility rate increased by 7.35%, as shares sank -15.53% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -44.94% lower at present.
During the last 5 trading sessions, LAC fell by -17.71%, which changed the moving average for the period of 200-days by -75.49% in comparison to the 20-day moving average, which settled at $2.73. In addition, Lithium Americas Corp (NewCo) saw -64.85% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for LAC
Current profitability levels for the company are sitting at:
- -287.64 for the present operating margin
- 0.13 for the gross margin
The net margin for Lithium Americas Corp (NewCo) stands at 238.56. The total capital return value is set at -0.04.
Based on Lithium Americas Corp (NewCo) (LAC), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at -4.94. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is -2.74.
Currently, EBITDA for the company is -27.66 million with net debt to EBITDA at 9.77. When we switch over and look at the enterprise to sales, we see a ratio of 6540.53. The receivables turnover for the company is 0.05for trailing twelve months and the total asset turnover is 0.0. The liquidity ratio also appears to be rather interesting for investors as it stands at 6.94.
Conclusion
In conclusion, Lithium Americas Corp (NewCo) (LAC) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
