Lithium Americas Corp. (TSE:LAC) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Lithium Americas has a consensus “Hold” rating from nine analysts: seven recommend holding the stock and two recommend buying it. The average 12-month price target is C$8.25.
• Analyst views have been mixed, with National Bank Financial lowering its target to C$7.25 while Scotia raised its target to C$11.00; Goldman Sachs and Wedbush both moved the stock to “Hold.”
• The shares opened at C$4.70, well below their 52-week high of C$14.75. Lithium Americas is developing lithium assets in Argentina and Nevada but had not yet begun lithium production at the time of the report.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) have been given a consensus rating of "Hold" by the nine research firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$8.25.

LAC has been the topic of a number of recent research reports. National Bank Financial cut their price objective on Lithium Americas from C$7.50 to C$7.25 and set a "sector perform" rating on the stock in a research report on Friday, May 15th. Scotia lifted their target price 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. The Goldman Sachs Group raised Lithium Americas to a "hold" rating in a research note on Wednesday, July 1st. Finally, Wedbush upgraded Lithium Americas to a "hold" rating in a report on Monday, April 20th.

Lithium Americas Price Performance

Shares of LAC opened at C$4.70 on Friday. Lithium Americas has a fifty-two week low of C$3.70 and a fifty-two week high of C$14.75. The firm's 50 day moving average price is C$4.99 and its 200 day moving average price is C$6.01. The company has a market cap of C$1.71 billion, a P/E ratio of -10.22 and a beta of 1.26. The company has a quick ratio of 52.06, a current ratio of 7.36 and a debt-to-equity ratio of 65.10.

Lithium Americas (TSE:LAC - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported C($0.03) earnings per share (EPS) for the quarter. Lithium Americas had a negative return on equity of 12.63% and a net margin of 1,429,488,235.29%. On average, research analysts forecast that Lithium Americas will post 1.3803828 earnings per share for the current fiscal year.

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.

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