Scotia Issues Positive Forecast for Lithium Americas (TSE:LAC) Stock Price

Lithium Americas (TSE:LAC) had its price objective hoisted by investment analysts at Scotia from C$8.50 to C$11.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the stock. Scotia’s target price would suggest a potential upside of 60.12% from the company’s current price.

LAC has been the subject of a number of other research reports. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Wedbush upgraded shares of Lithium Americas to a “hold” rating in a research note on Monday, April 20th. Finally, National Bank Financial dropped their price objective on shares of 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. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$8.25.

Lithium Americas Price Performance

Shares of TSE:LAC traded down C$0.17 during trading on Friday, reaching C$6.87. The stock had a trading volume of 1,175,585 shares, compared to its average volume of 1,528,705. Lithium Americas has a 52 week low of C$3.40 and a 52 week high of C$14.75. The business’s 50-day moving average price is C$6.33 and its 200 day moving average price is C$6.80. The company has a debt-to-equity ratio of 50.27, a current ratio of 5.16 and a quick ratio of 52.06. The stock has a market capitalization of C$2.40 billion, a PE ratio of -13.74 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.