Lithium Americas Corp. (TSE:LAC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Lithium Americas Corp. (TSE:LAC) have been assigned an average rating of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$7.00.

Several brokerages have recently issued reports on LAC. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. Canaccord Genuity Group set a C$6.50 price target on shares of Lithium Americas and gave the company a “hold” rating in a report on Wednesday, November 19th. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, National Bankshares cut their price objective on shares of Lithium Americas from C$10.00 to C$7.50 and set a “sector perform” rating for the company in a research report on Friday, December 19th.

Insider Transactions at Lithium Americas

In other Lithium Americas news, insider Aubree Barnum sold 4,763 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of C$6.33, for a total value of C$30,149.79. Following the completion of the sale, the insider owned 66,397 shares in the company, valued at approximately C$420,293.01. This trade represents a 6.69% decrease in their position. Also, insider Richard Gerspacher sold 6,118 shares of Lithium Americas stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of C$6.33, for a total value of C$38,726.94. Following the sale, the insider directly owned 84,443 shares in the company, valued at C$534,524.19. The trade was a 6.76% decrease in their position. In the last quarter, insiders sold 21,827 shares of company stock worth $138,165. Insiders own 7.40% of the company’s stock.

Lithium Americas Stock Performance

LAC opened at C$8.53 on Wednesday. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is C$7.27 and its two-hundred day moving average price is C$6.56. The firm has a market capitalization of C$2.59 billion, a P/E ratio of -7.90 and a beta of 1.26. Lithium Americas has a 12-month low of C$3.30 and a 12-month high of C$14.75.

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.