Lithium Americas (TSE:LAC) Lowered to "Strong Sell" Rating by Scotiabank

Key Points

• Scotiabank downgraded Lithium Americas from a "hold" rating to a "strong sell" rating, indicating a significant negative outlook for the stock.
• Other analysts, including TD Cowen and Canaccord Genuity Group, have also revised their ratings for the company, reflecting a general trend of reduced confidence in Lithium Americas.
• As of Monday, the stock price opened at C$11.78, with a notable decline of 6.8%, which continues to reflect fluctuations with a 12-month high of C$13.20 and a low of C$3.30.

Lithium Americas (TSE:LAC - Get Free Report) was downgraded by Scotiabank from a "hold" rating to a "strong sell" rating in a research report issued on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on the company. TD Cowen cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 25th. National Bankshares upped their price objective on shares of 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. Cormark cut shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Finally, Canaccord Genuity Group lowered shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 target price on the stock. in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of C$8.13.

Lithium Americas Trading Down 6.8%

LAC stock opened at C$11.78 on Monday. Lithium Americas has a 12-month low of C$3.30 and a 12-month high of C$13.20. The business's 50-day moving average is C$5.00 and its 200 day moving average is C$4.27. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65. The stock has a market cap of C$2.85 billion, a price-to-earnings ratio of -47.12 and a beta of 1.26.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.

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