Lithium Americas (TSE:LAC) Sets New 12-Month High – Here’s Why

Shares of Lithium Americas Corp. (TSE:LAC) hit a new 52-week high during trading on Monday . The company traded as high as C$14.66 and last traded at C$7.54, with a volume of 1499400 shares traded. The stock had previously closed at C$7.74.

Analysts Set New Price Targets

Several analysts have recently weighed in on LAC shares. Wedbush raised shares of Lithium Americas to a “hold” rating in a research note on Monday, April 20th. TD Securities raised shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas currently has a consensus rating of “Hold” and a consensus target price of C$7.00.

Lithium Americas Trading Down 2.7%

The business has a fifty day moving average price of C$6.18 and a two-hundred day moving average price of C$6.94. The company has a current ratio of 5.16, a quick ratio of 52.06 and a debt-to-equity ratio of 50.27. The firm has a market capitalization of C$2.62 billion, a PE ratio of -15.06 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.