Lithium Americas (TSE:LAC) Rating Increased to Hold at Scotiabank

Scotiabank upgraded shares of Lithium Americas (TSE:LAC) from a strong sell rating to a hold rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Cormark lowered Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 2nd. Canaccord Genuity Group downgraded shares of Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 price objective on the stock. in a report on Thursday, October 2nd. National Bankshares increased their target price on shares of Lithium Americas from C$5.00 to C$10.00 and gave the company a “sector perform” rating in a report on Thursday, October 2nd. Finally, TD Cowen lowered shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lithium Americas presently has an average rating of “Hold” and an average price target of C$8.13.

Lithium Americas Stock Down 2.8%

Shares of TSE LAC traded down C$0.18 during mid-day trading on Thursday, reaching C$6.26. 1,283,228 shares of the company’s stock traded hands, compared to its average volume of 1,042,650. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06. The business has a 50-day simple moving average of C$7.89 and a 200 day simple moving average of C$5.27. The stock has a market cap of C$1.55 billion, a P/E ratio of -25.04 and a beta of 1.26. Lithium Americas has a 1-year low of C$3.30 and a 1-year high of C$14.75.

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.