Lithium Americas (TSE:LAC) Given New C$11.00 Price Target at Scotia

Lithium Americas (TSE:LAC – Free Report) had its price objective raised by Scotia from C$8.50 to C$11.00 in a report published on Friday morning,BayStreet.CA reports. Scotia currently has a sector outperform rating on the stock.

Several other analysts also recently weighed in on LAC. Wedbush upgraded shares of Lithium Americas to a “hold” rating in a report on Monday, April 20th. National Bank Financial dropped their target price on shares of Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating for the company in a report on Friday. Finally, TD Securities upgraded shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$8.25.

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Lithium Americas Stock Down 1.8%

Lithium Americas stock opened at C$6.91 on Friday. Lithium Americas has a fifty-two week low of C$3.40 and a fifty-two week high of C$14.75. The company has a debt-to-equity ratio of 65.10, a quick ratio of 52.06 and a current ratio of 7.36. The firm has a 50 day moving average price of C$6.33 and a 200 day moving average price of C$6.80. The company has a market capitalization of C$2.41 billion, a PE ratio of -13.82 and a beta of 1.26.

About Lithium Americas

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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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