Lithium Americas Corp. (TSE:LAC) Receives Consensus Recommendation of “Buy” from Analysts

Lithium Americas Corp. (TSE:LACGet Rating) has been given an average recommendation of “Buy” by the eleven brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$43.80.

LAC has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$31.00 to C$34.00 in a report on Monday, January 10th. Canaccord Genuity Group cut their price objective on shares of Lithium Americas from C$54.00 to C$50.00 in a report on Friday, March 18th. Piper Sandler raised shares of Lithium Americas to a “buy” rating and set a C$41.00 price objective for the company in a report on Tuesday, January 11th. TD Securities cut their price objective on shares of Lithium Americas from C$45.00 to C$44.00 and set a “hold” rating for the company in a report on Friday, March 18th. Finally, Cowen raised shares of Lithium Americas to a “buy” rating and set a C$40.00 price objective for the company in a report on Wednesday, January 12th.

Shares of Lithium Americas stock traded down C$1.92 during trading on Tuesday, hitting C$32.58. 599,143 shares of the company’s stock were exchanged, compared to its average volume of 1,101,966. The company has a debt-to-equity ratio of 50.97, a quick ratio of 62.09 and a current ratio of 64.51. The business has a 50-day simple moving average of C$37.63 and a 200-day simple moving average of C$37.46. Lithium Americas has a 52-week low of C$14.46 and a 52-week high of C$53.09. The stock has a market capitalization of C$4.37 billion and a price-to-earnings ratio of -78.72.

Lithium Americas (TSE:LACGet Rating) last issued its earnings results on Wednesday, March 16th. The company reported C($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of C($0.13). On average, equities analysts anticipate that Lithium Americas will post 0.52 earnings per share for the current fiscal year.

In related news, Senior Officer Rene James William Leblanc sold 37,900 shares of the business’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of C$43.26, for a total transaction of C$1,639,394.82. Following the transaction, the insider now directly owns 82,081 shares in the company, valued at C$3,550,479.32. Also, Senior Officer Eduard Epshtein sold 9,762 shares of the business’s stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of C$43.02, for a total transaction of C$419,961.24. Following the transaction, the insider now owns 919,720 shares in the company, valued at C$39,566,354.40.

Lithium Americas Company Profile (Get Rating)

Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and Thacker Pass project located in north-western Nevada. The company was formerly known as Western Lithium USA Corporation and changed its name to Lithium Americas Corp.

Further Reading

Analyst Recommendations for Lithium Americas (TSE:LAC)

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