Lithium Americas (TSE:LAC) Upgraded to Hold at TD Securities

TD Securities upgraded shares of Lithium Americas (TSE:LAC) to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Scotiabank raised Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. National Bankshares reduced their price objective on shares of Lithium Americas from C$10.00 to C$7.50 and set a “sector perform” rating for the company in a research report on Friday, December 19th. Finally, Canaccord Genuity Group set a C$6.50 price objective on shares of Lithium Americas and gave the company a “hold” rating in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and an average target price of C$7.00.

Lithium Americas Stock Performance

Lithium Americas stock traded down C$0.03 during midday trading on Monday, reaching C$6.54. 289,121 shares of the company’s stock were exchanged, compared to its average volume of 1,788,431. Lithium Americas has a 52 week low of C$3.30 and a 52 week high of C$14.75. The firm has a market cap of C$1.98 billion, a price-to-earnings ratio of -6.06 and a beta of 1.26. The stock’s 50-day simple moving average is C$7.20 and its 200 day simple moving average is C$6.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88.

Insider Buying and Selling at Lithium Americas

In other news, insider Edward Grandy sold 6,183 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of C$6.33, for a total value of C$39,138.39. Following the transaction, the insider owned 135,466 shares in the company, valued at approximately C$857,499.78. This represents a 4.37% decrease in their ownership of the stock. Also, insider Timothy Crowley sold 4,763 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of C$6.33, for a total transaction of C$30,149.79. Following the transaction, the insider directly owned 128,795 shares of the company’s stock, valued at C$815,272.35. This trade represents a 3.57% decrease in their position. Insiders have sold a total of 21,827 shares of company stock worth $138,165 in the last ninety days. 7.40% of the stock is owned by company insiders.

About Lithium Americas

Lithium Americas is developing three lithium production assets, two brine resources located in northwestern Argentina and a clay resource in Nevada, U.S. While the company has no current lithium production, we expect the first Argentina resource, Cauchari-Olaroz, to enter production in late 2022. We expect the Nevada project, Thacker Pass, to enter production in the middle of the 2020s and the second brine resource, Pastos Grandes, to enter production in the late-2020s. Lithium Americas plans for all three resources to be fully integrated, selling into the lithium chemical market.