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

Shares of Lithium Americas Corp. (TSE:LAC) have earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$7.00.

Several equities analysts have recently commented on the company. Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Canaccord Genuity Group set a C$6.50 price target on shares of Lithium Americas and gave the company a “hold” rating in a research report on Wednesday, November 19th. National Bankshares lowered their price objective on shares of Lithium Americas from C$10.00 to C$7.50 and set a “sector perform” rating for the company in a report on Friday, December 19th. Scotiabank raised shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, TD Cowen cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th.

Insider Buying and Selling

In other Lithium Americas news, insider Timothy Crowley sold 4,763 shares of Lithium Americas stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of C$6.33, for a total value of C$30,149.79. Following the transaction, the insider directly owned 128,795 shares of the company’s stock, valued at C$815,272.35. The trade was a 3.57% decrease in their position. Also, insider Aubree Barnum sold 4,763 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 66,397 shares of the company’s stock, valued at C$420,293.01. The trade was a 6.69% decrease in their position. In the last 90 days, insiders sold 21,827 shares of company stock worth $138,165. Insiders own 7.40% of the company’s stock.

Lithium Americas Stock Up 9.8%

LAC opened at C$7.19 on Friday. The stock has a market cap of C$2.18 billion, a PE ratio of -6.66 and a beta of 1.26. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. Lithium Americas has a 52 week low of C$3.30 and a 52 week high of C$14.75. The business’s fifty day simple moving average is C$6.93 and its 200 day simple moving average is C$6.06.

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.