National Bankshares Has Lowered Expectations for Lithium Americas (TSE:LAC) Stock Price

Lithium Americas (TSE:LAC) had its price target lowered by research analysts at National Bankshares from C$10.00 to C$7.50 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bankshares’ target price would suggest a potential upside of 14.68% from the stock’s current price.

A number of other research firms have also recently commented on LAC. TD Cowen cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Scotiabank raised Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Canaccord Genuity Group set a C$6.50 price target on Lithium Americas and gave the company a “hold” rating in a research report on Wednesday, November 19th. Finally, Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$7.00.

Lithium Americas Price Performance

LAC opened at C$6.54 on Friday. Lithium Americas has a fifty-two week low of C$3.30 and a fifty-two week high of C$14.75. The firm has a 50-day moving average of C$7.78 and a 200 day moving average of C$5.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88. The firm has a market cap of C$1.98 billion, a P/E ratio of -6.06 and a beta of 1.26.

Insider Activity

In related news, insider Edward Grandy sold 6,183 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of C$6.33, for a total transaction of C$39,138.39. Following the completion of the transaction, the insider directly owned 135,466 shares in the company, valued at C$857,499.78. The trade was a 4.37% decrease in their ownership of the stock. Also, insider Aubree Barnum sold 4,763 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of C$6.33, for a total value of C$30,149.79. Following the completion of the transaction, the insider owned 66,397 shares in the company, valued at C$420,293.01. This represents a 6.69% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 21,827 shares of company stock valued at $138,165. 7.40% of the stock is owned by company insiders.

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. Lithium Americas plans for all three resources to be fully integrated, selling into the lithium chemical market.