Lithium Americas Corp. (TSE:LAC - Get Free Report)'s stock price traded down 19.2% on Thursday . The company traded as low as C$10.36 and last traded at C$10.71. 3,486,442 shares changed hands during trading, an increase of 250% from the average session volume of 995,811 shares. The stock had previously closed at C$13.26.
Wall Street Analyst Weigh In
LAC has been the topic of a number of analyst reports. Cormark cut Lithium Americas from a "moderate buy" rating to a "hold" rating in a research note on Thursday, October 2nd. Scotiabank cut Lithium Americas from a "hold" rating to a "strong sell" rating in a research note on Monday, October 6th. TD Cowen cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. Canaccord Genuity Group lowered 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. Finally, National Bankshares increased their target price on Lithium Americas from C$5.00 to C$10.00 and gave the stock a "sector perform" rating 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 given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of C$8.13.
Read Our Latest Stock Analysis on LAC
Lithium Americas Stock Down 21.2%
The stock has a 50 day moving average price of C$6.15 and a 200 day moving average price of C$4.64. The stock has a market capitalization of C$2.58 billion, a price-to-earnings ratio of -41.80 and a beta of 1.26. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65.
Lithium Americas Company Profile
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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.
See Also
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