Lithium Americas (TSE:LAC) PT Set at C$6.50 by Canaccord Genuity Group

Lithium Americas (TSE:LAC) received a C$6.50 price target from stock analysts at Canaccord Genuity Group in a research note issued to investors on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price objective indicates a potential downside of 9.60% from the stock’s previous close.

Several other research firms have also weighed in on LAC. Scotiabank raised Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. TD Cowen downgraded shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. National Bankshares lifted their price objective on Lithium Americas from C$5.00 to C$10.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 2nd. Finally, Cormark cut Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 2nd. One 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 company. According to data from MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and an average target price of C$8.25.

Lithium Americas Stock Performance

LAC traded up C$0.22 on Wednesday, reaching C$7.19. The company had a trading volume of 1,816,369 shares, compared to its average volume of 1,055,815. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. Lithium Americas has a 1 year low of C$3.30 and a 1 year high of C$14.75. The stock has a market capitalization of C$2.18 billion, a PE ratio of -6.66 and a beta of 1.26. The stock has a 50-day moving average price of C$8.01 and a 200-day moving average price of C$5.33.

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.