Lithium Americas (TSE:LAC) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Lithium Americas Corp. (TSE:LAC)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.76 and traded as low as C$6.75. Lithium Americas shares last traded at C$6.77, with a volume of 1,721,914 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LAC. Scotia lifted their target price on shares of Lithium Americas from C$8.50 to C$11.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. National Bank Financial decreased their target price on shares of Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating on the stock in a research report on Friday, May 15th. Wedbush upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, April 20th. Finally, TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$8.25.

Lithium Americas Price Performance

The business’s 50 day moving average price is C$6.37 and its two-hundred day moving average price is C$6.76. The stock has a market cap of C$2.38 billion, a P/E ratio of -15.04 and a beta of 1.26. The company has a current ratio of 7.36, a quick ratio of 52.06 and a debt-to-equity ratio of 65.10.

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.