Lithium Americas (TSE:LAC) Stock Rating Lowered by Canaccord Genuity Group

Lithium Americas (TSE:LAC) was downgraded by analysts at Canaccord Genuity Group from a “moderate buy” rating to a “sell” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a C$6.25 target price on the stock. Canaccord Genuity Group’s price target suggests a potential downside of 49.56% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Cormark raised Lithium Americas to a “moderate buy” rating in a research report on Wednesday, August 20th. TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Lithium Americas presently has an average rating of “Hold” and an average target price of C$8.13.

Lithium Americas Stock Performance

Shares of LAC traded up C$2.83 during mid-day trading on Thursday, hitting C$12.39. 3,989,696 shares of the company traded hands, compared to its average volume of 845,213. The stock has a market cap of C$2.99 billion, a price-to-earnings ratio of -49.56 and a beta of 1.26. The stock has a 50-day moving average price of C$4.68 and a two-hundred day moving average price of C$4.17. Lithium Americas has a 1 year low of C$3.30 and a 1 year high of C$13.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.