Lithium Americas Corp. (TSE:LAC) Receives Consensus Rating of “Hold” from Analysts

Shares of Lithium Americas Corp. (TSE:LAC) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$7.00.

A number of equities analysts have commented on LAC shares. National Bankshares reduced their price target on shares of Lithium Americas from C$10.00 to C$7.50 and set a “sector perform” rating on the stock in a research report on Friday, December 19th. Cormark raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. Scotiabank raised Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, Canaccord Genuity Group set a C$6.50 price target on Lithium Americas and gave the stock a “hold” rating in a research report on Wednesday, November 19th.

Lithium Americas Stock Up 4.0%

Shares of TSE:LAC opened at C$8.53 on Wednesday. The company’s fifty day moving average is C$7.27 and its 200-day moving average is C$6.56. The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88. Lithium Americas has a 52 week low of C$3.30 and a 52 week high of C$14.75. The company has a market capitalization of C$2.59 billion, a PE ratio of -7.90 and a beta of 1.26.

Insiders Place Their Bets

In other news, insider Edward Grandy sold 6,183 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of C$6.33, for a total value of C$39,138.39. Following the completion of the sale, the insider directly owned 135,466 shares in the company, valued at approximately C$857,499.78. This trade represents a 4.37% decrease in their ownership of the stock. Also, insider Richard Gerspacher sold 6,118 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 transaction of C$38,726.94. Following the transaction, the insider owned 84,443 shares in the company, valued at approximately C$534,524.19. This trade represents a 6.76% decrease in their position. Insiders have sold a total of 21,827 shares of company stock worth $138,165 over the last ninety days. Company insiders own 7.40% of the company’s stock.

About Lithium Americas

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.