Scotiabank Upgrades Lithium Americas (TSE:LAC) to Hold

Lithium Americas (TSE:LAC) was upgraded by investment analysts at Scotiabank from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the company. TD Cowen lowered Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Canaccord Genuity Group downgraded shares of Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 target price on the stock. in a research note on Thursday, October 2nd. National Bankshares increased their price target on shares of Lithium Americas from C$5.00 to C$10.00 and gave the company a “sector perform” rating in a research note on Thursday, October 2nd. Finally, Cormark downgraded shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lithium Americas currently has a consensus rating of “Hold” and a consensus target price of C$8.13.

Lithium Americas Price Performance

LAC traded down C$0.18 during trading on Thursday, reaching C$6.26. The company’s stock had a trading volume of 1,283,228 shares, compared to its average volume of 1,042,650. The company has a market cap of C$1.55 billion, a price-to-earnings ratio of -25.04 and a beta of 1.26. The firm has a fifty day simple moving average of C$7.89 and a two-hundred day simple moving average of C$5.27. Lithium Americas has a 1 year low of C$3.30 and a 1 year high of C$14.75. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65.

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.