Lithium Americas Corp. (TSE:LAC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Lithium Americas Corp. (TSE:LAC) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$8.25.

A number of analysts have recently weighed in on the stock. National Bank Financial reduced their price target 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 note on Friday, May 15th. Wedbush upgraded shares of Lithium Americas to a “hold” rating in a research note on Monday, April 20th. Finally, Scotia boosted their target price on 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.

Lithium Americas Stock Performance

LAC stock opened at C$5.46 on Friday. The company has a 50-day simple moving average of C$6.68 and a 200 day simple moving average of C$6.62. The company has a market capitalization of C$1.92 billion, a P/E ratio of -12.13 and a beta of 1.26. The company has a quick ratio of 52.06, a current ratio of 7.36 and a debt-to-equity ratio of 65.10. Lithium Americas has a fifty-two week low of C$3.41 and a fifty-two week high of C$14.75.

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.