Lithium Americas (TSE:LAC) Shares Down 6.4% – Should You Sell?

Shares of Lithium Americas Corp. (TSE:LACGet Free Report) were down 6.4% during mid-day trading on Thursday . The stock traded as low as C$7.00 and last traded at C$7.00. Approximately 361,551 shares changed hands during trading, a decline of 76% from the average daily volume of 1,513,234 shares. The stock had previously closed at C$7.48.

Analysts Set New Price Targets

Several research firms have recently commented on LAC. 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 issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$7.00.

View Our Latest Research Report on LAC

Lithium Americas Trading Down 6.0%

The firm has a market capitalization of C$2.45 billion, a P/E ratio of -14.06 and a beta of 1.26. The business’s 50 day moving average is C$6.32 and its two-hundred day moving average is C$6.82. The company has a quick ratio of 52.06, a current ratio of 5.16 and a debt-to-equity ratio of 50.27.

Lithium Americas Company Profile

(Get Free Report)

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.

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