Lithium Americas (TSE:LAC) Upgraded at TD Securities

Lithium Americas (TSE:LAC) was upgraded by analysts at TD Securities to a “hold” rating in a report issued on Monday,Zacks.com reports.

LAC has been the subject of a number of other reports. National Bankshares cut their price objective on 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. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Finally, Canaccord Genuity Group set a C$6.50 price target on Lithium Americas and gave the stock a “hold” rating in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$7.00.

Lithium Americas Trading Up 3.1%

TSE LAC opened at C$6.57 on Monday. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of C$7.20 and a two-hundred day simple moving average of C$6.71. Lithium Americas has a 12-month low of C$3.30 and a 12-month high of C$14.75. The stock has a market cap of C$1.99 billion, a P/E ratio of -6.08 and a beta of 1.26.

Insider Activity at Lithium Americas

In other news, insider Timothy Crowley sold 4,763 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of C$6.33, for a total transaction of C$30,149.79. Following the completion of the sale, the insider directly owned 128,795 shares of the company’s stock, valued at C$815,272.35. This trade represents a 3.57% decrease in their position. Also, insider Richard Gerspacher sold 6,118 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of C$6.33, for a total transaction of C$38,726.94. Following the completion of the transaction, the insider owned 84,443 shares in the company, valued at C$534,524.19. The trade was a 6.76% decrease in their ownership of the stock. Insiders have sold a total of 21,827 shares of company stock worth $138,165 in the last 90 days. 7.40% of the stock is owned by corporate insiders.

Lithium Americas Company Profile

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.