Lithium Americas (TSE:LAC) Reaches New 1-Year High – Still a Buy?

Shares of Lithium Americas Corp. (TSE:LAC) hit a new 52-week high on Monday . The company traded as high as C$16.46 and last traded at C$8.00, with a volume of 985214 shares changing hands. The stock had previously closed at C$7.63.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LAC shares. TD Securities raised shares of Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Wedbush upgraded Lithium Americas to a “hold” rating in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Lithium Americas has a consensus rating of “Hold” and a consensus target price of C$7.00.

Lithium Americas Price Performance

The company has a market cap of C$2.75 billion, a price-to-earnings ratio of -15.78 and a beta of 1.26. The company’s 50-day simple moving average is C$6.26 and its 200-day simple moving average is C$6.87. The company has a debt-to-equity ratio of 50.27, a current ratio of 5.16 and a quick ratio of 52.06.

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.