Lithium Americas (TSE:LAC) Hits New 52-Week High – Still a Buy?

Shares of Lithium Americas Corp. (TSE:LAC) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$7.92 and last traded at C$7.83, with a volume of 1180895 shares changing hands. The stock had previously closed at C$7.44.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Scotiabank raised shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Canaccord Genuity Group set a C$6.50 price objective on shares of Lithium Americas and gave the stock a “hold” rating in a research report on Wednesday, November 19th. TD Cowen downgraded shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Finally, National Bankshares increased their price target on shares of Lithium Americas from C$5.00 to C$10.00 and gave the company a “sector perform” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$8.25.

Lithium Americas Trading Up 5.5%

The business’s 50-day simple moving average is C$8.40 and its two-hundred day simple moving average is C$5.46. The firm has a market capitalization of C$2.38 billion, a price-to-earnings ratio of -7.27 and a beta of 1.26. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65.

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.