Lithium Americas Corp. (TSE:LAC - Get Free Report) shares dropped 21% during mid-day trading on Thursday . The company traded as low as C$10.29 and last traded at C$10.48. Approximately 4,211,813 shares were traded during trading, an increase of 322% from the average daily volume of 999,224 shares. The stock had previously closed at C$13.26.
Analyst Ratings Changes
LAC has been the topic of a number of recent analyst reports. TD Cowen cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 25th. Canaccord Genuity Group cut Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price objective on the stock. in a report 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. Cormark cut shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a report on Thursday, October 2nd. Finally, National Bankshares boosted their price target on 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. One research 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. According to MarketBeat.com, Lithium Americas presently has a consensus rating of "Hold" and a consensus price target of C$8.13.
Get Our Latest Stock Analysis on Lithium Americas
Lithium Americas Stock Performance
The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of C$6.15 and a two-hundred day simple moving average of C$4.64. The stock has a market capitalization of C$2.57 billion, a P/E ratio of -41.56 and a beta of 1.26.
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.
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