Lithium Americas (TSE:LAC) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Lithium Americas Corp. (TSE:LAC)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.76 and traded as low as C$6.75. Lithium Americas shares last traded at C$6.77, with a volume of 1,721,914 shares.

Wall Street Analysts Forecast Growth

LAC has been the topic of a number of recent research reports. National Bank Financial lowered their target price on Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating on the stock in a research report on Friday, May 15th. TD Securities raised 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 report on Monday, April 20th. Finally, Scotia raised their price target on shares of Lithium Americas from C$8.50 to C$11.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$8.25.

Lithium Americas Price Performance

The company has a current ratio of 7.36, a quick ratio of 52.06 and a debt-to-equity ratio of 65.10. The stock has a market cap of C$2.38 billion, a PE ratio of -15.04 and a beta of 1.26. The business has a 50-day moving average price of C$6.37 and a 200 day moving average price of C$6.76.

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.