Lithium Americas (TSE:LAC) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Lithium Americas (TSE:LAC) from a hold rating to a moderate buy rating in a research report released on Thursday, Marketbeat Ratings reports. Canaccord Genuity Group currently has C$5.25 price target on the stock, down from their previous price target of C$7.00.

Separately, The Goldman Sachs Group raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$7.83.

Lithium Americas Trading Down 2.8%

Shares of Lithium Americas stock opened at C$3.09 on Thursday. The company has a fifty day simple moving average of C$3.99 and a 200-day simple moving average of C$5.23. Lithium Americas has a 12-month low of C$2.90 and a 12-month high of C$10.16. The company has a current ratio of 5.47, a quick ratio of 52.06 and a debt-to-equity ratio of 81.68. The stock has a market cap of C$1.12 billion, a price-to-earnings ratio of -6.72 and a beta of 3.45.

Lithium Americas (TSE:LAC) last posted its earnings results on Thursday, August 13th. The company reported C($0.03) EPS for the quarter. Lithium Americas had a net margin of 1,429,488,235.29% and a negative return on equity of 8.92%. On average, equities analysts forecast that Lithium Americas will post 1.38 EPS for the current fiscal year.

Lithium Americas Company Profile

Lithium Americas is building Thacker Pass located in Humboldt County in northern Nevada. Phase 1 is designed for nominal production capacity of 40,000 tonnes per year of battery-quality lithium carbonate, and mechanical completion is targeted for late 2027. Thacker Pass hosts the largest known measured lithium resource (Measured and Indicated) in the world and is owned by a JV between Lithium Americas (holding a 62% interest), and GM (holding a 38% interest). Project financing for Phase 1 includes a $2.23 billion loan from the U.S.