Analysts Set Lithium Americas Corp. (TSE:LAC) PT at C$7.00

Lithium Americas Corp. (TSE:LAC) has been assigned an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$7.00.

A number of research firms have recently commented on LAC. Canaccord Genuity Group set a C$6.50 price objective on shares of Lithium Americas and gave the company a “hold” rating in a research report on Wednesday, November 19th. National Bankshares reduced their price target on shares of Lithium Americas from C$10.00 to C$7.50 and set a “sector perform” rating for the company in a research report on Friday, December 19th. Cormark raised Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. Finally, Scotiabank upgraded Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th.

Insider Activity at Lithium Americas

In other news, insider Aubree Barnum sold 4,763 shares of Lithium Americas stock in a transaction on Friday, November 14th. The shares were sold at an average price of C$6.33, for a total transaction of C$30,149.79. Following the completion of the sale, the insider directly owned 66,397 shares of the company’s stock, valued at approximately C$420,293.01. The trade was a 6.69% decrease in their position. Also, insider Timothy Crowley sold 4,763 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of C$6.33, for a total value of C$30,149.79. Following the completion of the transaction, the insider directly owned 128,795 shares in the company, valued at approximately C$815,272.35. This represents a 3.57% decrease in their position. Insiders sold 21,827 shares of company stock worth $138,165 over the last quarter. 7.40% of the stock is currently owned by corporate insiders.

Lithium Americas Price Performance

Lithium Americas stock opened at C$7.03 on Wednesday. The firm has a market capitalization of C$2.13 billion, a P/E ratio of -6.51 and a beta of 1.26. Lithium Americas has a one year low of C$3.30 and a one year high of C$14.75. 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 business has a fifty day moving average price of C$7.29 and a 200-day moving average price of C$6.66.

Lithium Americas Company Profile

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. Lithium Americas plans for all three resources to be fully integrated, selling into the lithium chemical market.