Lithium Americas (TSE:LAC) Raised to “Hold” at Canaccord Genuity Group

Lithium Americas (TSE:LAC) was upgraded by stock analysts at Canaccord Genuity Group from a “sell” rating to a “hold” rating in a report issued on Tuesday, MarketBeat reports.

Several other analysts have also weighed in on LAC. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. TD Cowen lowered Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Cormark lowered Lithium Americas from a “moderate buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Finally, National Bankshares raised their target price on Lithium Americas from C$5.00 to C$10.00 and gave the company a “sector perform” rating in a research note on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$8.25.

Lithium Americas Stock Up 0.4%

Lithium Americas stock traded up C$0.03 during midday trading on Tuesday, hitting C$7.24. The stock had a trading volume of 592,459 shares, compared to its average volume of 1,054,679. The business has a fifty day moving average price of C$8.07 and a 200 day moving average price of C$5.35. Lithium Americas has a 12 month low of C$3.30 and a 12 month high of C$14.75. The stock has a market cap of C$2.20 billion, a P/E ratio of -6.70 and a beta of 1.26. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65.

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.