Lithium Americas (TSE:LAC) Hits New 12-Month High – Still a Buy?
by Teresa Graham · The Cerbat GemLithium Americas Corp. (TSE:LAC – Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as C$12.32 and last traded at C$6.55, with a volume of 917533 shares traded. The stock had previously closed at C$6.29.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. TD Securities raised shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. National Bank Financial lowered their target price on shares of Lithium Americas from C$10.00 to C$7.50 and set a “sector perform” rating on the stock in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$7.00.
Get Our Latest Research Report on Lithium Americas
Lithium Americas Stock Up 4.0%
The company has a current ratio of 5.16, a quick ratio of 52.06 and a debt-to-equity ratio of 50.27. The company has a 50 day simple moving average of C$6.08 and a two-hundred day simple moving average of C$7.27. The firm has a market capitalization of C$2.27 billion, a P/E ratio of -13.08 and a beta of 1.26.
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.