Lithium Americas (TSE:LAC) Raised to Hold at The Goldman Sachs Group

Lithium Americas (TSE:LAC) was upgraded by equities researchers at The Goldman Sachs Group to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on the stock. National Bank Financial cut their target price on shares of Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating for the company in a research report on Friday, May 15th. Scotia increased their price target on shares of Lithium Americas from C$8.50 to C$11.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Finally, Wedbush upgraded shares of Lithium Americas to a “hold” rating in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$8.25.

Lithium Americas Trading Down 2.2%

Lithium Americas stock opened at C$5.34 on Wednesday. Lithium Americas has a 52-week low of C$3.41 and a 52-week high of C$14.75. The company has a market cap of C$1.87 billion, a P/E ratio of -11.87 and a beta of 1.26. The company has a quick ratio of 52.06, a current ratio of 7.36 and a debt-to-equity ratio of 65.10. The business has a 50-day simple moving average of C$6.66 and a two-hundred day simple moving average of C$6.61.

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.