Lithium Americas (TSE:LAC) Reaches New 1-Year High Following Analyst Upgrade

Lithium Americas Corp. (TSE:LAC) reached a new 52-week high on Wednesday after Canaccord Genuity Group upgraded the stock from a sell rating to a hold rating. The stock traded as high as C$7.83 and last traded at C$7.35, with a volume of 1635264 shares changing hands. The stock had previously closed at C$6.97.

A number of other research firms also recently commented on LAC. Scotiabank raised shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. National Bankshares upped their price objective 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. TD Cowen cut Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Finally, Cormark cut Lithium Americas from a “moderate buy” rating to a “hold” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Lithium Americas currently has a consensus rating of “Hold” and an average target price of C$8.25.

Lithium Americas Stock Down 1.3%

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 stock has a market capitalization of C$2.02 billion, a PE ratio of -6.17 and a beta of 1.26. The firm’s fifty day moving average is C$8.18 and its 200-day moving average is C$5.38.

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.