Lithium Americas (TSE:LAC) Raised to Hold at Wedbush

Key Points

• Wedbush upgraded Lithium Americas to a "Hold" and TD Securities also raised the stock to "Hold," leaving the consensus rating at "Hold" with an average price target of C$7.00.
• Lithium Americas shares opened at C$6.79 (up ~2.4%), trading slightly below the 200-day SMA (C$7.21) with a market cap of C$2.36 billion and a negative P/E of -13.58.
• Development pipeline: the company is advancing three lithium assets — Cauchari‑Olaroz (Argentina), Thacker Pass (Nevada), and Pastos Grandes (Argentina) — with staged production expected from late‑2022 through the late‑2020s.

Lithium Americas (TSE:LAC - Get Free Report) was upgraded by stock analysts at Wedbush to a "hold" rating in a report released on Monday,Zacks.com reports.

Separately, TD Securities upgraded shares of Lithium Americas to a "hold" rating in a report on Monday, February 9th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$7.00.

Lithium Americas Trading Up 2.4%

Lithium Americas stock opened at C$6.79 on Monday. The company's fifty day simple moving average is C$6.10 and its 200-day simple moving average is C$7.21. The company has a quick ratio of 52.06, a current ratio of 5.16 and a debt-to-equity ratio of 50.27. Lithium Americas has a 12 month low of C$3.40 and a 12 month high of C$14.75. The stock has a market cap of C$2.36 billion, a P/E ratio of -13.58 and a beta of 1.26.

About Lithium Americas

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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