Lithium Americas (TSE:LAC) Reaches New 12-Month High - Here's What Happened

Key Points

• Shares of Lithium Americas Corp. reached a new 12-month high of C$13.60, closing at C$13.44 with a trading volume of over 4 million shares.
• Analysts have mixed views on Lithium Americas, with some raising price targets significantly while others have downgraded their ratings; the average price target is now C$8.13.
• Lithium Americas is currently developing three lithium production assets, with expectations of beginning production at its Argentina site in late 2022 and Nevada site in the mid-2020s.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as C$13.60 and last traded at C$13.44, with a volume of 4117228 shares changing hands. The stock had previously closed at C$10.52.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LAC. National Bankshares boosted their price target on shares of Lithium Americas from C$5.00 to C$10.00 and gave the company a "sector perform" rating in a research report on Thursday, October 2nd. Canaccord Genuity Group cut shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price target on the stock. in a research report on Thursday, October 2nd. Scotiabank cut shares of Lithium Americas from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. Cormark cut shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Finally, TD Cowen cut shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of C$8.13.

Lithium Americas Stock Performance

The stock has a market capitalization of C$3.42 billion, a PE ratio of -55.36 and a beta of 1.26. The firm's fifty day moving average is C$5.75 and its 200-day moving average is C$4.51. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65.

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.

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