Scotia Issues Positive Forecast for Lithium Americas (TSE:LAC) Stock Price

Lithium Americas (TSE:LAC) had its price target hoisted by analysts at Scotia from C$8.50 to C$11.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotia’s target price would suggest a potential upside of 60.12% from the stock’s current price.

Several other analysts have also recently commented on LAC. Wedbush upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, April 20th. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Finally, National Bank Financial dropped 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 research report on Friday. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$8.25.

Lithium Americas Trading Down 2.4%

Shares of Lithium Americas stock traded down C$0.17 on Friday, hitting C$6.87. 1,175,585 shares of the company’s stock traded hands, compared to its average volume of 1,528,705. The firm’s 50-day moving average price is C$6.33 and its two-hundred day moving average price is C$6.80. The stock has a market capitalization of C$2.40 billion, a PE ratio of -13.74 and a beta of 1.26. Lithium Americas has a one year low of C$3.40 and a one year high of C$14.75. The company has a debt-to-equity ratio of 50.27, a current ratio of 5.16 and a quick ratio of 52.06.

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.