Lithium Americas Corp. (TSE:LAC) Stock Has Average Price Target of C$7.83 According to Analysts

Lithium Americas Corp. (TSE:LAC) has received an average rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is C$7.83.

A number of equities research analysts recently commented on LAC shares. Canaccord Genuity Group upgraded shares of Lithium Americas from a “hold” rating to a “speculative buy” rating and reduced their price objective for the company from C$7.00 to C$5.25 in a research report on Thursday. The Goldman Sachs Group upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, July 1st.

Lithium Americas Stock Performance

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

Lithium Americas (TSE:LAC) last announced its quarterly earnings data on Thursday, August 13th. The company reported C($0.03) earnings per share (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%. On average, sell-side analysts forecast that Lithium Americas will post 1.38 EPS for the current fiscal year.

About Lithium Americas

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.