Brokerages Set Lithium Americas Corp. (TSE:LAC) Price Target at C$7.00

Lithium Americas Corp. (TSE:LAC) has been given an average rating of “Hold” by the seven research firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$7.00.

Several equities analysts have recently commented on the stock. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. National Bank Financial lowered their price objective on shares of Lithium Americas from C$10.00 to C$7.50 and set a “sector perform” rating for the company in a research report on Friday, December 19th. Scotiabank upgraded Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. TD Securities upgraded Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Finally, Canaccord Genuity Group set a C$6.50 price objective on Lithium Americas and gave the stock a “hold” rating in a research report on Wednesday, November 19th.

Lithium Americas Stock Performance

LAC opened at C$6.90 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88. Lithium Americas has a 52-week low of C$3.30 and a 52-week high of C$14.75. The firm has a market cap of C$2.09 billion, a P/E ratio of -6.39 and a beta of 1.26. The business’s fifty day moving average is C$7.04 and its 200-day moving average is C$6.96.

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.