Lithium Americas (TSE:LAC) Shares Pass Below 200-Day Moving Average – Here’s Why

Lithium Americas Corp. (TSE:LAC)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$6.46 and traded as low as C$4.02. Lithium Americas shares last traded at C$4.10, with a volume of 698,702 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, July 1st. Wedbush raised shares of Lithium Americas to a “hold” rating in a research report on Monday, April 20th. National Bank Financial lowered their target price on shares of 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. Finally, Scotia upped their price target on shares of 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 investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$8.25.

Lithium Americas Stock Down 1.2%

The stock has a fifty day moving average of C$6.05 and a two-hundred day moving average of C$6.46. The company has a quick ratio of 52.06, a current ratio of 7.36 and a debt-to-equity ratio of 65.10. The stock has a market cap of C$1.44 billion, a price-to-earnings ratio of -9.11 and a beta of 1.26.

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.