Brokerages Set Lithium Americas Corp. (TSE:LAC) Price Target at C$8.25

Lithium Americas Corp. (TSE:LAC) has been given an average rating of “Hold” by the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$8.25.

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Lithium Americas to a “hold” rating in a report on Wednesday. National Bank Financial dropped their target price on Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating for the company in a research note on Friday, May 15th. Wedbush upgraded Lithium Americas to a “hold” rating in a research note on Monday, April 20th. Finally, Scotia increased their target price on Lithium Americas from C$8.50 to C$11.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th.

Lithium Americas Stock Up 1.5%

Shares of TSE LAC opened at C$5.42 on Friday. Lithium Americas has a 1 year low of C$3.41 and a 1 year high of C$14.75. The firm’s 50 day moving average price is C$6.63 and its 200 day moving average price is C$6.60. The firm has a market cap of C$1.90 billion, a P/E ratio of -12.04 and a beta of 1.26. The company has a debt-to-equity ratio of 65.10, a quick ratio of 52.06 and a current ratio of 7.36.

About Lithium Americas

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.