Lithium Americas Corp. (TSE:LAC) Receives C$7.00 Consensus Price Target from Brokerages

Shares of Lithium Americas Corp. (TSE:LAC) have been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$7.00.

LAC has been the subject of several research analyst reports. Cormark raised Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. National Bank Financial cut their price target on shares of Lithium Americas from C$10.00 to C$7.50 and set a “sector perform” rating for the company in a report on Friday, December 19th. Scotiabank raised shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. 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. Finally, TD Securities upgraded shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th.

Lithium Americas Price Performance

Shares of TSE:LAC opened at C$7.06 on Friday. The stock has a market cap of C$2.14 billion, a price-to-earnings ratio of -6.54 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06. Lithium Americas has a 12 month low of C$3.30 and a 12 month high of C$14.75. The stock’s 50 day moving average price is C$7.04 and its 200 day moving average price is C$6.92.

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.