Lithium Americas Corp. (TSE:LAC) Stock Now Rated “Hold” by Sell-Side Analysts

Lithium Americas Corp. (TSE:LAC) has received a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is C$7.17.

A number of equities research analysts have recently issued reports on the stock. National Bank Financial reduced 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 research report on Monday. The Goldman Sachs Group upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, July 1st. Finally, Canaccord Genuity Group raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating and lowered their price target for the stock from C$7.00 to C$5.25 in a research report on Thursday, October 15th.

Lithium Americas Trading Up 0.3%

Shares of TSE:LAC opened at C$3.02 on Thursday. Lithium Americas has a 12-month low of C$2.90 and a 12-month high of C$9.80. The stock has a market cap of C$1.10 billion, a PE ratio of -6.57 and a beta of 3.45. The business has a 50 day moving average of C$3.90 and a 200-day moving average of C$5.18. 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 issued its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) EPS for the quarter. Lithium Americas had a net margin of 1,429,488,235.29% and a negative return on equity of 8.92%. As a group, equities research 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.