Lithium Americas (TSE:LAC) Upgraded to “Speculative Buy” at Canaccord Genuity Group

Lithium Americas (TSE:LAC) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “speculative buy” rating in a report issued on Thursday, BayStreet reports. The brokerage currently has a C$5.25 price objective on the stock, down from their previous price objective of C$7.00. Canaccord Genuity Group’s target price indicates a potential upside of 66.14% from the stock’s previous close.

Separately, The Goldman Sachs Group upgraded shares of Lithium Americas to a “hold” rating in a research 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$7.83.

Lithium Americas Stock Performance

LAC traded up C$0.19 during trading hours on Thursday, hitting C$3.16. 1,220,164 shares of the stock were exchanged, compared to its average volume of 1,411,638. The stock has a market cap of C$1.15 billion, a price-to-earnings ratio of -6.87 and a beta of 3.45. The stock has a 50-day simple moving average of C$4.04 and a 200-day simple moving average of C$5.26. The company has a debt-to-equity ratio of 81.68, a current ratio of 5.47 and a quick ratio of 52.06. Lithium Americas has a 12 month low of C$2.90 and a 12 month high of C$12.69.

Lithium Americas (TSE:LAC) last announced its quarterly earnings results 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%. Analysts anticipate 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.