Lithium Americas (TSE:LAC) Reaches New 12-Month High on Analyst Upgrade

Lithium Americas Corp. (TSE:LAC) shares reached a new 52-week high during mid-day trading on Wednesday after Canaccord Genuity Group upgraded the stock from a sell rating to a hold rating. The company traded as high as C$7.83 and last traded at C$7.35, with a volume of 1635264 shares. The stock had previously closed at C$6.97.

A number of other brokerages have also recently commented on LAC. Cormark cut shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a research report on Thursday, October 2nd. TD Cowen lowered Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. National Bankshares increased their target price on Lithium Americas from C$5.00 to C$10.00 and gave the company a “sector perform” rating in a report on Thursday, October 2nd. Finally, Scotiabank raised Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and an average price target of C$8.25.

Lithium Americas Stock Down 1.3%

The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06. The stock has a market cap of C$2.02 billion, a PE ratio of -6.17 and a beta of 1.26. The company has a 50 day moving average price of C$8.18 and a two-hundred day moving average price of C$5.38.

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.