Lithium Americas (TSE:LAC) Rating Increased to Hold at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Lithium Americas (TSE:LAC) to a hold rating in a report published on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Scotia upped their target price on Lithium Americas from C$8.50 to C$11.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. National Bank Financial decreased their price target on shares of Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating for the company in a report on Friday, May 15th. Finally, Wedbush raised shares of Lithium Americas to a “hold” rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$8.25.

Lithium Americas Stock Down 2.2%

Shares of Lithium Americas stock opened at C$5.34 on Wednesday. Lithium Americas has a 1 year low of C$3.41 and a 1 year high of C$14.75. The company has a market cap of C$1.87 billion, a P/E ratio of -11.87 and a beta of 1.26. The company has a current ratio of 7.36, a quick ratio of 52.06 and a debt-to-equity ratio of 65.10. The stock has a 50-day moving average price of C$6.66 and a 200 day moving average price of C$6.61.

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.