Lithium Americas (TSE:LAC) Raised to Hold at The Goldman Sachs Group

Lithium Americas (TSE:LAC) was upgraded by analysts at The Goldman Sachs Group to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages also recently weighed in on LAC. Wedbush raised Lithium Americas to a “hold” rating in a research report on Monday, April 20th. Scotia upped their target price on shares of Lithium Americas from C$8.50 to C$11.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$8.25.

Lithium Americas Stock Performance

Shares of LAC stock opened at C$5.34 on Wednesday. The firm has a market capitalization of C$1.87 billion, a price-to-earnings ratio of -11.87 and a beta of 1.26. The company has a debt-to-equity ratio of 65.10, a quick ratio of 52.06 and a current ratio of 7.36. The company has a 50 day moving average price of C$6.66 and a 200 day moving average price of C$6.61. Lithium Americas has a one year low of C$3.41 and a one year high of C$14.75.

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.