Lithium Americas (NYSE:LAC) Rating Increased to Hold at TD Securities

TD Securities upgraded shares of Lithium Americas (NYSE:LAC) to a hold rating in a research report released on Monday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upgraded 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. Canaccord Genuity Group upgraded shares of Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a report on Wednesday, January 28th. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. Finally, Scotiabank upped their price objective on shares of Lithium Americas from $5.00 to $7.00 and gave the company a “sector perform” rating in a research report on Monday, January 12th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.81.

Lithium Americas Stock Down 1.3%

Lithium Americas stock traded down $0.07 during trading on Monday, reaching $4.78. 1,167,822 shares of the company’s stock were exchanged, compared to its average volume of 18,175,627. Lithium Americas has a 52-week low of $2.31 and a 52-week high of $10.52. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -4.55 and a beta of 1.55. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77. The company’s 50-day moving average is $5.22 and its two-hundred day moving average is $4.84.

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

Insider Activity

In other news, SVP Edward Grandy sold 6,183 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $4.50, for a total transaction of $27,823.50. Following the transaction, the senior vice president owned 135,466 shares of the company’s stock, valued at approximately $609,597. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 10,960 shares of company stock valued at $49,372. Corporate insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

A number of hedge funds have recently added to or reduced their stakes in LAC. Van ECK Associates Corp lifted its position in shares of Lithium Americas by 158.1% in the 3rd quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock worth $82,679,000 after buying an additional 8,868,971 shares during the last quarter. Millennium Management LLC raised its stake in Lithium Americas by 1,188.3% during the third quarter. Millennium Management LLC now owns 3,307,103 shares of the company’s stock worth $18,885,000 after acquiring an additional 3,050,405 shares during the period. Legal & General Group Plc lifted its holdings in Lithium Americas by 212.7% in the fourth quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after acquiring an additional 2,082,891 shares during the last quarter. Old West Investment Management LLC bought a new stake in shares of Lithium Americas in the 3rd quarter worth approximately $7,647,000. Finally, Kailix Advisors LLC acquired a new position in Lithium Americas during the 4th quarter valued at approximately $5,123,000.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.