Lithium Americas (TSE:LAC) Price Target Cut to C$5.25 by Analysts at National Bank Financial

Key Points

• National Bank Financial cut Lithium Americas’ price target from C$6.25 to C$5.25 while maintaining a “sector perform” rating; the revised target implies 72.7% upside from the current price.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of C$7.17. Canaccord Genuity also lowered its target to C$5.25, despite upgrading the stock to “moderate buy.”
• Lithium Americas shares fell 1.6% to C$3.04, near the company’s C$2.90 one-year low. Its Thacker Pass project in Nevada is planned to produce 40,000 tonnes of battery-grade lithium carbonate annually in Phase 1, targeted for mechanical completion in late 2027.

Lithium Americas (TSE:LAC - Get Free Report) had its price objective dropped by research analysts at National Bank Financial from C$6.25 to C$5.25 in a research note issued on Monday, BayStreet reports. The firm currently has a "sector perform" rating on the stock. National Bank Financial's target price indicates a potential upside of 72.70% from the company's current price.

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group raised shares of Lithium Americas to a "hold" rating in a research report on Wednesday, July 1st. Canaccord Genuity Group raised shares of Lithium Americas from a "hold" rating to a "moderate buy" rating and lowered their price target for the company from C$7.00 to C$5.25 in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of C$7.17.

Lithium Americas Trading Down 1.6%

Shares of Lithium Americas stock traded down C$0.05 during trading hours on Monday, hitting C$3.04. The company's stock had a trading volume of 377,803 shares, compared to its average volume of 1,407,334. Lithium Americas has a 1-year low of C$2.90 and a 1-year high of C$10.16. The business has a fifty day moving average of C$3.99 and a 200 day moving average of C$5.23. The company has a market capitalization of C$1.10 billion, a PE ratio of -6.61 and a beta of 3.45. The company has a quick ratio of 52.06, a current ratio of 5.47 and a debt-to-equity ratio of 81.68.

Lithium Americas (TSE:LAC - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) EPS for the quarter. Lithium Americas had a negative return on equity of 8.92% and a net margin of 1,429,488,235.29%. As a group, equities analysts forecast that Lithium Americas will post 1.38 EPS for the current year.

About Lithium Americas

Lithium Americas is building Thacker Pass located in Humboldt County in northern Nevada. Phase 1 is designed for nominal production capacity of 40,000 tonnes per year of battery-quality lithium carbonate, and mechanical completion is targeted for late 2027. Thacker Pass hosts the largest known measured lithium resource (Measured and Indicated) in the world and is owned by a JV between Lithium Americas (holding a 62% interest), and GM (holding a 38% interest). Project financing for Phase 1 includes a $2.23 billion loan from the U.S.

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