Lithium Americas Corp. (TSE:LAC) Stock Has Consensus Price Target of C$7.83

Shares of Lithium Americas Corp. (TSE:LAC) have received an average recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$7.83.

Several brokerages have weighed in on LAC. Canaccord Genuity Group upgraded shares of Lithium Americas from a “hold” rating to a “speculative buy” rating and lowered their target price for the stock from C$7.00 to C$5.25 in a research report on Thursday. The Goldman Sachs Group upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, July 1st.

Lithium Americas Price Performance

Shares of LAC traded up C$0.23 during trading hours on Thursday, reaching C$3.20. The company had a trading volume of 1,459,030 shares, compared to its average volume of 1,412,544. The firm has a 50 day simple moving average of C$4.04 and a 200-day simple moving average of C$5.26. The company has a current ratio of 5.47, a quick ratio of 52.06 and a debt-to-equity ratio of 81.68. The company has a market capitalization of C$1.16 billion, a price-to-earnings ratio of -6.96 and a beta of 3.45. Lithium Americas has a 12-month low of C$2.90 and a 12-month high of C$12.69.

Lithium Americas (TSE:LAC) last announced its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) EPS for the quarter. Lithium Americas had a net margin of 1,429,488,235.29% and a negative return on equity of 8.92%. Research analysts expect that Lithium Americas will post 1.38 earnings per share for the current year.

Lithium Americas Company Profile

Lithium Americas is building Thacker Pass located in Humboldt County in northern Nevada. Phase 1 is designed for nominal production capacity of 40,000 tonnes per year of battery-quality lithium carbonate, and mechanical completion is targeted for late 2027. Thacker Pass hosts the largest known measured lithium resource (Measured and Indicated) in the world and is owned by a JV between Lithium Americas (holding a 62% interest), and GM (holding a 38% interest). Project financing for Phase 1 includes a $2.23 billion loan from the U.S.