Lithium Americas (TSE:LAC) Stock Rating Upgraded by 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.

A number of other equities research analysts have also recently commented on the company. Wedbush raised Lithium Americas to a “hold” rating in a report on Monday, April 20th. National Bank Financial dropped their price objective on Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating for the company in a research note on Friday, May 15th. Finally, Scotia increased their target price on 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. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$8.25.

Lithium Americas Stock Down 2.2%

LAC opened at C$5.34 on Wednesday. The company has a debt-to-equity ratio of 65.10, a quick ratio of 52.06 and a current ratio of 7.36. Lithium Americas has a fifty-two week low of C$3.41 and a fifty-two week high of C$14.75. The firm’s fifty day moving average is C$6.66 and its 200 day moving average is C$6.61. The stock has a market cap of C$1.87 billion, a price-to-earnings ratio of -11.87 and a beta of 1.26.

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.