Lithium Americas (TSE:LAC) Stock Rating Upgraded by Scotiabank

Key Points

• Scotiabank upgraded Lithium Americas (TSE:LAC) from a "strong sell" to a "hold" in a research note issued Thursday.
• Analyst sentiment is mixed-to-cautious: one analyst rates the stock a Strong Buy, six rate it Hold and one rates it Sell, giving an overall average rating of Hold with an average target price of C$8.13.
• LAC shares traded at C$6.26 midday (market cap ~C$1.55B), below the average target and inside a 12‑month range of C$3.30–C$14.75, with a negative P/E reflecting no current earnings.

Lithium Americas (TSE:LAC - Get Free Report) was upgraded by equities researchers at Scotiabank from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research firms have also commented on LAC. Canaccord Genuity Group lowered shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price target for the company. in a research report on Thursday, October 2nd. Cormark downgraded Lithium Americas from a "moderate buy" rating to a "hold" rating in a research report on Thursday, October 2nd. TD Cowen cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. Finally, National Bankshares lifted their target price on Lithium Americas from C$5.00 to C$10.00 and gave the company a "sector perform" rating in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Lithium Americas has an average rating of "Hold" and an average target price of C$8.13.

Lithium Americas Stock Performance

Shares of TSE LAC traded down C$0.18 during mid-day trading on Thursday, hitting C$6.26. The company had a trading volume of 1,283,228 shares, compared to its average volume of 1,042,650. Lithium Americas has a 12 month low of C$3.30 and a 12 month high of C$14.75. The stock has a market cap of C$1.55 billion, a price-to-earnings ratio of -25.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06. The firm's 50 day simple moving average is C$7.89 and its two-hundred day simple moving average is C$5.27.

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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