Lithium Americas (TSE:LAC) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Lithium Americas Corp. (TSE:LAC) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$7.00 and traded as low as C$6.58. Lithium Americas shares last traded at C$6.99, with a volume of 1,119,188 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LAC. Scotiabank upgraded Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Cormark raised 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 objective on shares of Lithium Americas and gave the company a “hold” rating in a research note on Wednesday, November 19th. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. Finally, National Bank Financial cut their target price 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$7.00.

Lithium Americas Trading Up 0.9%

The firm has a market cap of C$1.99 billion, a price-to-earnings ratio of -6.07 and a beta of 1.26. The business has a 50 day moving average of C$7.05 and a 200 day moving average of C$7.02. The company has a quick ratio of 52.06, a current ratio of 3.77 and a debt-to-equity ratio of 85.22.

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.