Lithium Americas (TSE:LAC) Reaches New 12-Month High – Time to Buy?

Shares of Lithium Americas Corp. (TSE:LAC) reached a new 52-week high on Monday . The company traded as high as C$16.46 and last traded at C$8.00, with a volume of 985214 shares traded. The stock had previously closed at C$7.63.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LAC shares. Wedbush raised shares of Lithium Americas to a “hold” rating in a report on Monday, April 20th. TD Securities raised shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$7.00.

Lithium Americas Price Performance

The company has a quick ratio of 52.06, a current ratio of 5.16 and a debt-to-equity ratio of 50.27. The company has a 50 day simple moving average of C$6.26 and a 200-day simple moving average of C$6.87. The stock has a market cap of C$2.75 billion, a price-to-earnings ratio of -15.78 and a beta of 1.26.

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.