Lithium Americas (TSE:LAC) Hits New 12-Month High – What’s Next?

Lithium Americas Corp. (TSE:LAC)’s stock price reached a new 52-week high on Wednesday . The company traded as high as C$7.83 and last traded at C$7.35, with a volume of 1635264 shares traded. The stock had previously closed at C$6.97.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LAC. Cormark downgraded shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 2nd. Canaccord Genuity Group lowered 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 report on Thursday, October 2nd. National Bankshares lifted 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 report on Thursday, October 2nd. TD Cowen lowered Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Finally, Scotiabank upgraded Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$8.13.

Lithium Americas Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88. The stock has a market capitalization of C$2.22 billion, a PE ratio of -6.79 and a beta of 1.26. The company’s fifty day simple moving average is C$8.01 and its two-hundred day simple moving average is C$5.33.

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.