Lithium Americas Corp. (TSE:LAC) Given Average Rating of “Hold” by Brokerages

Shares of Lithium Americas Corp. (TSE:LAC) have received a consensus rating of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$8.25.

A number of research analysts recently issued reports on LAC shares. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. TD Cowen cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. National Bankshares boosted their target price on shares of Lithium Americas from C$5.00 to C$10.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 2nd. Finally, Canaccord Genuity Group set a C$6.50 price target on Lithium Americas and gave the company a “hold” rating in a research note on Wednesday, November 19th.

Lithium Americas Stock Performance

Shares of TSE LAC opened at C$7.04 on Tuesday. The company has a market capitalization of C$2.14 billion, a PE ratio of -6.52 and a beta of 1.26. 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 company’s fifty day moving average price is C$8.26 and its 200 day moving average price is C$5.73. Lithium Americas has a 1 year low of C$3.30 and a 1 year high of C$14.75.

Insiders Place Their Bets

In related news, insider Aubree Barnum sold 4,763 shares of the company’s stock in a transaction that occurred on 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 directly owned 66,397 shares of the company’s stock, valued at C$420,293.01. This represents a 6.69% decrease in their ownership of the stock. Also, insider Timothy Crowley sold 4,763 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of C$6.33, for a total transaction of C$30,149.79. Following the completion of the transaction, the insider owned 128,795 shares in the company, valued at C$815,272.35. This represents a 3.57% decrease in their ownership of the stock. Insiders sold a total of 21,827 shares of company stock worth $138,165 over the last 90 days. Insiders own 7.40% of the company’s stock.

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.