Lithium Americas (TSE:LAC) Upgraded to Speculative Buy at Canaccord Genuity Group

Lithium Americas (TSE:LAC) was upgraded by Canaccord Genuity Group from a “hold” rating to a “speculative buy” rating in a research report issued to clients and investors on Thursday, BayStreet reports. The firm currently has a C$5.25 price target on the stock, down from their previous price target of C$7.00. Canaccord Genuity Group’s target price suggests a potential upside of 66.14% from the stock’s previous close.

Separately, The Goldman Sachs Group raised Lithium Americas to a “hold” rating in a report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$7.83.

Lithium Americas Price Performance

Shares of TSE LAC traded up C$0.19 during midday trading on Thursday, reaching C$3.16. The company’s stock had a trading volume of 1,220,164 shares, compared to its average volume of 1,411,638. 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 50 day moving average price of C$4.04 and a 200 day moving average price of C$5.26. Lithium Americas has a one year low of C$2.90 and a one year high of C$12.69. The company has a market cap of C$1.15 billion, a price-to-earnings ratio of -6.87 and a beta of 3.45.

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