Lithium Americas (NYSE:LAC) Raised to Hold at Scotiabank

Lithium Americas (NYSE:LAC) was upgraded by stock analysts at Scotiabank from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Thursday, November 6th. Wedbush lifted their target price on shares of Lithium Americas from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Jefferies Financial Group dropped their target price on shares of Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Canaccord Genuity Group lowered shares of Lithium Americas from a “speculative buy” rating to a “sell” rating in a research note on Thursday, October 2nd. Finally, Cormark downgraded shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.33.

Lithium Americas Stock Down 2.9%

NYSE LAC traded down $0.14 on Thursday, hitting $4.47. The stock had a trading volume of 12,701,797 shares, compared to its average volume of 23,469,950. The business’s fifty day moving average price is $5.67 and its 200 day moving average price is $3.82. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -4.25 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.88 and a quick ratio of 9.88. Lithium Americas has a 52-week low of $2.31 and a 52-week high of $10.52.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. Equities research analysts anticipate that Lithium Americas will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In other Lithium Americas news, VP Alexi Illya Zawadzki sold 353,914 shares of Lithium Americas stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the completion of the sale, the vice president directly owned 40,005 shares in the company, valued at approximately $379,247.40. The trade was a 89.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. boosted its holdings in Lithium Americas by 86.1% in the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock valued at $27,000 after purchasing an additional 4,580 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Lithium Americas in the 1st quarter valued at about $27,000. Masso Torrence Wealth Management Inc. purchased a new stake in shares of Lithium Americas in the third quarter worth about $57,000. Gainplan LLC purchased a new stake in shares of Lithium Americas in the third quarter worth about $58,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Lithium Americas during the third quarter worth about $60,000.

About Lithium Americas

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.