Lithium Americas (TSE:LAC) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Lithium Americas Corp. (TSE:LAC)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$6.66 and traded as low as C$5.35. Lithium Americas shares last traded at C$5.39, with a volume of 1,242,890 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LAC shares. National Bank Financial cut their price target on Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating for the company in a report on Friday, May 15th. Wedbush raised Lithium Americas to a “hold” rating in a research note on Monday, April 20th. Finally, Scotia lifted their price objective on Lithium Americas from C$8.50 to C$11.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Lithium Americas presently has a consensus rating of “Hold” and an average target price of C$8.25.

Lithium Americas Trading Down 1.5%

The company has a debt-to-equity ratio of 65.10, a current ratio of 7.36 and a quick ratio of 52.06. The firm has a market cap of C$1.89 billion, a price-to-earnings ratio of -11.98 and a beta of 1.26. The business’s 50-day moving average price is C$6.76 and its two-hundred day moving average price is C$6.66.

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.