Lithium Americas (TSE:LAC) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Lithium Americas Corp. (TSE:LAC) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.55 and traded as low as C$4.69. Lithium Americas shares last traded at C$4.70, with a volume of 1,722,748 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on LAC. Wedbush raised shares of Lithium Americas to a “hold” rating in a report on Monday, April 20th. National Bank Financial cut 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, May 15th. The Goldman Sachs Group upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, July 1st. Finally, Scotia increased their price target on Lithium Americas from C$8.50 to C$11.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Lithium Americas has an average rating of “Hold” and a consensus target price of C$8.25.

Lithium Americas Stock Down 7.1%

The company has a current ratio of 7.36, a quick ratio of 52.06 and a debt-to-equity ratio of 65.10. The stock has a market cap of C$1.65 billion, a P/E ratio of -10.44 and a beta of 1.26. The company’s 50 day moving average price is C$6.47 and its two-hundred day moving average price is C$6.55.

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.