Lithium Americas (TSE:LAC) Given a C$6.50 Price Target at Canaccord Genuity Group

Lithium Americas (TSE:LAC) has been given a C$6.50 price target by equities researchers at Canaccord Genuity Group in a note issued to investors on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential downside of 9.60% from the stock’s current price.

Several other research analysts have also commented on LAC. Cormark lowered shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a research note on Thursday, October 2nd. National Bankshares upped their price target on Lithium Americas from C$5.00 to C$10.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 2nd. Scotiabank upgraded Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$8.25.

Lithium Americas Stock Up 3.2%

Lithium Americas stock traded up C$0.22 during mid-day trading on Wednesday, hitting C$7.19. The company’s stock had a trading volume of 1,816,369 shares, compared to its average volume of 1,055,815. The company has a market cap of C$2.18 billion, a PE ratio of -6.66 and a beta of 1.26. Lithium Americas has a 52-week low of C$3.30 and a 52-week high of C$14.75. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06. The firm’s 50 day moving average is C$8.01 and its 200 day 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.