Lithium Americas Corp. (LAC.TO) – What Are Investment Firms Thinking About This Stock?

Shares of Lithium Americas Corp. (TSE:LAC) have been assigned an average recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$7.17.

Several brokerages have commented on LAC. National Bank Financial decreased their target price on shares of Lithium Americas from C$6.25 to C$5.25 and set a “sector perform” rating for the company in a report on Monday, October 19th. Canaccord Genuity Group upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating and cut their price target for the company from C$7.00 to C$5.25 in a report on Thursday, October 15th.

Lithium Americas Stock Performance

TSE:LAC opened at C$2.75 on Monday. The stock has a fifty day simple moving average of C$3.54 and a 200 day simple moving average of C$5.35. The firm has a market capitalization of C$998.37 million, a price-to-earnings ratio of -5.98 and a beta of 3.32. Lithium Americas has a 1-year low of C$2.48 and a 1-year high of C$9.47. The company has a quick ratio of 52.06, a current ratio of 5.47 and a debt-to-equity ratio of 81.68.

Lithium Americas (TSE:LAC) last posted its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) earnings per share (EPS) for the quarter. Lithium Americas had a negative return on equity of 8.92% and a net margin of 1,429,488,235.29%. Sell-side analysts forecast that Lithium Americas will post 1.38 earnings per share for the current year.

About Lithium Americas

Lithium Americas is building Thacker Pass located in Humboldt County in northern Nevada. Phase 1 is designed for nominal production capacity of 40,000 tonnes per year of battery-quality lithium carbonate, and mechanical completion is targeted for late 2027. Thacker Pass hosts the largest known measured lithium resource (Measured and Indicated) in the world and is owned by a JV between Lithium Americas (holding a 62% interest), and GM (holding a 38% interest). Project financing for Phase 1 includes a $2.23 billion loan from the U.S.