Lithium Americas (TSE:LAC) Trading Down 6.4% – Here’s Why

Shares of Lithium Americas Corp. (TSE:LAC – Get Free Report) fell 6.4% during mid-day trading on Wednesday . The stock traded as low as C$7.33 and last traded at C$7.43. 763,133 shares were traded during mid-day trading, a decline of 53% from the average session volume of 1,615,859 shares. The stock had previously closed at C$7.94.

Analyst Ratings Changes

Several brokerages recently issued reports on LAC. Scotia boosted their price target on Lithium Americas from C$8.50 to C$11.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. TD Securities raised shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. National Bank Financial cut their price objective 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 report on Friday, May 15th. Finally, Wedbush raised shares of Lithium Americas to a “hold” rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$8.25.

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Lithium Americas Stock Down 9.2%

The stock has a market capitalization of C$2.53 billion, a P/E ratio of -16.02 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. The firm has a 50 day simple moving average of C$6.51 and a two-hundred day simple moving average of C$6.77.

Lithium Americas Company Profile

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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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