Lithium Americas (TSE:LAC) Trading Down 6.4% – What’s Next?

Lithium Americas Corp. (TSE:LAC) was down 6.4% during mid-day trading on Thursday . The company traded as low as C$7.00 and last traded at C$7.00. Approximately 361,551 shares traded hands during trading, a decline of 76% from the average daily volume of 1,513,234 shares. The stock had previously closed at C$7.48.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wedbush upgraded Lithium Americas to a “hold” rating in a research note on Monday, April 20th. TD Securities upgraded Lithium Americas to a “hold” rating in a report on Monday, February 9th. One investment 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, the stock presently has an average rating of “Hold” and an average target price of C$7.00.

Lithium Americas Stock Performance

The stock has a fifty day simple moving average of C$6.32 and a two-hundred day simple moving average of C$6.82. The stock has a market cap of C$2.45 billion, a PE ratio of -14.06 and a beta of 1.26. The company has a debt-to-equity ratio of 50.27, a quick ratio of 52.06 and a current ratio of 5.16.

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.