Lithium Americas (TSE:LAC) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Lithium Americas Corp. (TSE:LAC) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.55 and traded as low as C$4.69. Lithium Americas shares last traded at C$4.70, with a volume of 1,722,748 shares traded.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. National Bank Financial reduced their price objective on Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating for the company in a research report on Friday, May 15th. Wedbush raised Lithium Americas to a “hold” rating in a research note on Monday, April 20th. The Goldman Sachs Group upgraded Lithium Americas to a “hold” rating in a report on Wednesday, July 1st. Finally, Scotia lifted their price target on Lithium Americas from C$8.50 to C$11.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and a consensus target price of C$8.25.

Lithium Americas Trading Down 7.1%

The firm has a market cap of C$1.65 billion, a P/E ratio of -10.44 and a beta of 1.26. The stock has a fifty day simple moving average of C$6.47 and a 200 day simple moving average of C$6.55. The company has a debt-to-equity ratio of 65.10, a quick ratio of 52.06 and a current ratio of 7.36.

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.