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

Shares of Lithium Americas Corp. (TSE:LAC) have received an average rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$8.25.

A number of brokerages recently weighed in on LAC. Scotia increased their price objective on shares of Lithium Americas from C$8.50 to C$11.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. Wedbush upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, April 20th. National Bank Financial lowered their price objective on shares of Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating on the stock in a research report on Friday, May 15th. Finally, TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th.

Lithium Americas Stock Up 5.8%

Shares of Lithium Americas stock opened at C$7.62 on Tuesday. The company has a market cap of C$2.68 billion, a price-to-earnings ratio of -16.93 and a beta of 1.26. The company’s 50 day moving average is C$6.51 and its 200 day moving average is C$6.77. Lithium Americas has a twelve month low of C$3.40 and a twelve month high of C$14.75. The company has a quick ratio of 52.06, a current ratio of 7.36 and a debt-to-equity ratio of 65.10.

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.