Lithium Americas (TSE:LAC) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Lithium Americas Corp. (TSE:LAC) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$5.26 and traded as high as C$7.14. Lithium Americas shares last traded at C$6.80, with a volume of 913,081 shares.

Wall Street Analysts Forecast Growth

LAC has been the subject of several research reports. National Bankshares lifted 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. TD Cowen cut Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Cormark downgraded Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 2nd. Scotiabank lowered Lithium Americas from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Finally, Canaccord Genuity Group downgraded Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 target price for the company. in a research report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$8.13.

Lithium Americas Stock Down 1.6%

The firm has a market cap of C$1.68 billion, a PE ratio of -27.20 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. The business has a 50-day moving average price of C$7.80 and a two-hundred day moving average price of C$5.26.

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.