Brokerages Set Lithium Americas Corp. (TSE:LAC) Target Price at C$8.25

Shares of Lithium Americas Corp. (TSE:LAC) have earned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$8.25.

A number of brokerages have recently issued reports on LAC. Wedbush upgraded shares of Lithium Americas to a “hold” rating in a report on Monday, April 20th. The Goldman Sachs Group raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, July 1st. Scotia upped their target price on shares of Lithium Americas from C$8.50 to C$11.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Finally, National Bank Financial dropped their price target on shares of Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating on the stock in a research report on Friday, May 15th.

Lithium Americas Price Performance

Shares of LAC opened at C$3.99 on Wednesday. Lithium Americas has a 12-month low of C$3.41 and a 12-month high of C$14.75. The business’s fifty day moving average is C$5.80 and its 200 day moving average is C$6.39. The company has a quick ratio of 52.06, a current ratio of 7.36 and a debt-to-equity ratio of 65.10. The stock has a market cap of C$1.40 billion, a P/E ratio of -8.87 and a beta of 1.26.

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