National Bankshares Cuts Lithium Americas (TSE:LAC) Price Target to C$7.50

Lithium Americas (TSE:LAC) had its price target cut by stock analysts at National Bankshares from C$10.00 to C$7.50 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bankshares’ price target would indicate a potential upside of 15.92% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Cormark raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. TD Cowen lowered shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Finally, Canaccord Genuity Group set a C$6.50 target price on shares of Lithium Americas and gave the stock a “hold” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and a consensus price target of C$7.00.

Lithium Americas Trading Up 3.7%

Shares of TSE LAC traded up C$0.23 during midday trading on Friday, hitting C$6.47. The stock had a trading volume of 969,125 shares, compared to its average volume of 1,086,982. The firm has a market cap of C$1.96 billion, a P/E ratio of -5.99 and a beta of 1.26. Lithium Americas has a fifty-two week low of C$3.30 and a fifty-two week high of C$14.75. 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 company’s 50-day simple moving average is C$7.86 and its 200 day simple moving average is C$5.79.

Insider Activity

In related news, insider Aubree Barnum sold 4,763 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of C$6.33, for a total transaction of C$30,149.79. Following the completion of the transaction, the insider owned 66,397 shares in the company, valued at approximately C$420,293.01. The trade was a 6.69% decrease in their ownership of the stock. Also, insider Richard Gerspacher sold 6,118 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of C$6.33, for a total transaction of C$38,726.94. Following the completion of the sale, the insider owned 84,443 shares in the company, valued at approximately C$534,524.19. This trade represents a 6.76% decrease in their ownership of the stock. Insiders have sold a total of 21,827 shares of company stock worth $138,165 in the last ninety days. Company insiders own 7.40% of the company’s stock.

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.