Lithium Americas (TSE:LAC) Upgraded to Hold at TD Securities

Lithium Americas (TSE:LAC) was upgraded by equities researchers at TD Securities to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Scotiabank raised 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 price target on shares of Lithium Americas and gave the company a “hold” rating in a research note on Wednesday, November 19th. National Bankshares dropped their price target on Lithium Americas from C$10.00 to C$7.50 and set a “sector perform” rating for the company in a research note on Friday, December 19th. Finally, Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Lithium Americas has a consensus rating of “Hold” and an average price target of C$7.00.

Lithium Americas Price Performance

Shares of TSE:LAC opened at C$6.57 on Monday. Lithium Americas has a twelve month low of C$3.30 and a twelve month high of C$14.75. The company has a market cap of C$1.99 billion, a price-to-earnings ratio of -6.08 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$7.20 and a 200 day moving average price of C$6.71.

Insider Activity

In related news, insider Timothy Crowley sold 4,763 shares of the business’s stock in a transaction dated 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 sale, the insider owned 128,795 shares of the company’s stock, valued at C$815,272.35. The trade was a 3.57% decrease in their ownership of the stock. Also, insider Aubree Barnum sold 4,763 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of C$6.33, for a total value of C$30,149.79. Following the completion of the sale, the insider owned 66,397 shares in the company, valued at C$420,293.01. The trade was a 6.69% decrease in their position. In the last three months, insiders sold 21,827 shares of company stock valued at $138,165. 7.40% of the stock is currently owned by insiders.

Lithium Americas Company Profile

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.