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Lithium Americas (TSE:LAC) Stock Price Down 21.6% - What's Next?

Lithium Americas logo with Basic Materials background

Key Points

  • Lithium Americas Corp. (TSE:LAC) saw a significant stock price decline of 21.6%, falling to C$10.39 from its previous close of C$13.26.
  • Several analysts have downgraded the stock's rating, with TD Cowen and Cormark lowering their recommendations to "hold", while Scotiabank has issued a "strong sell" rating.
  • The company is developing three lithium production assets, with expected production from its Argentina resource, Cauchari-Olaroz, planned to start in late 2022, although it has no current production.
  • MarketBeat previews the top five stocks to own by November 1st.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shares traded down 21.6% on Thursday . The stock traded as low as C$10.29 and last traded at C$10.39. 4,766,525 shares changed hands during trading, an increase of 375% from the average session volume of 1,002,767 shares. The stock had previously closed at C$13.26.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Scotiabank cut shares of Lithium Americas from a "hold" rating to a "strong sell" rating in a report on Monday, October 6th. Canaccord Genuity Group cut shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 target price for the company. in a report on Thursday, October 2nd. National Bankshares upped their target price 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 report on Thursday, October 2nd. Finally, TD Cowen cut shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 25th. One 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's stock. Based on data from MarketBeat.com, Lithium Americas has an average rating of "Hold" and a consensus price target of C$8.13.

Read Our Latest Research Report on Lithium Americas

Lithium Americas Trading Down 21.6%

The firm has a market capitalization of C$2.57 billion, a P/E ratio of -41.56 and a beta of 1.26. The stock's 50-day simple moving average is C$6.15 and its two-hundred day simple moving average is C$4.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06.

About Lithium Americas

(Get Free Report)

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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