Lithium Americas (TSE:LAC) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Lithium Americas Corp. (TSE:LAC) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.46 and traded as low as C$4.02. Lithium Americas shares last traded at C$4.10, with a volume of 698,702 shares traded.

Analysts Set New Price Targets

LAC has been the topic of several analyst reports. Scotia upped 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 note on Friday, May 15th. Wedbush raised shares of Lithium Americas to a “hold” rating in a research report on Monday, April 20th. National Bank Financial decreased their price objective on shares of Lithium Americas from C$7.50 to C$7.25 and set a “sector perform” rating for the company in a report on Friday, May 15th. Finally, The Goldman Sachs Group upgraded Lithium Americas to a “hold” rating in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$8.25.

Lithium Americas Stock Down 2.1%

The company has a quick ratio of 52.06, a current ratio of 7.36 and a debt-to-equity ratio of 65.10. The company has a market cap of C$1.48 billion, a PE ratio of -9.38 and a beta of 1.26. The company’s fifty day moving average is C$5.98 and its 200-day moving average is C$6.45.

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.