Lithium Americas (TSE:LAC) Raised to Moderate Buy at Canaccord Genuity Group

Lithium Americas (TSE:LAC) was upgraded by Canaccord Genuity Group from a “hold” rating to a “moderate buy” rating in a research note issued on Thursday, MarketBeat reports. The firm presently has a C$5.25 price target on the stock, down from their previous price target of C$7.00. Canaccord Genuity Group’s price objective would indicate a potential upside of 65.09% from the company’s previous close.

Separately, The Goldman Sachs Group upgraded Lithium Americas to a “hold” rating in a report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$7.83.

Lithium Americas Stock Up 7.1%

TSE:LAC opened at C$3.18 on Thursday. Lithium Americas has a 52 week low of C$2.90 and a 52 week high of C$12.69. The stock’s fifty day moving average is C$4.02 and its two-hundred day moving average is C$5.24. The stock has a market capitalization of C$1.15 billion, a price-to-earnings ratio of -6.91 and a beta of 3.45. 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) earnings per share for the quarter. Lithium Americas had a net margin of 1,429,488,235.29% and a negative return on equity of 8.92%. Research analysts anticipate that Lithium Americas will post 1.38 EPS for the current year.

Lithium Americas Company Profile

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.