Lithium Americas (TSE:LAC) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Lithium Americas Corp. (TSE:LAC)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$7.17 and traded as low as C$5.87. Lithium Americas shares last traded at C$5.87, with a volume of 1,593,461 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Securities raised shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Cormark raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. Finally, National Bank Financial lowered their price target on shares of Lithium Americas from C$10.00 to C$7.50 and set a “sector perform” rating on the stock in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$7.00.

Lithium Americas Stock Performance

The firm’s fifty day moving average price is C$6.86 and its 200-day moving average price is C$7.17. The company has a market cap of C$1.55 billion, a P/E ratio of -4.73 and a beta of 1.26. The company has a current ratio of 5.16, a quick ratio of 52.06 and a debt-to-equity ratio of 50.27.

Lithium Americas Company Profile

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.