Lithium Americas (NYSE:LAC) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Lithium Americas (NYSE:LAC) from a sell rating to a strong sell rating in a research note published on Saturday morning.

A number of other equities research analysts have also weighed in on LAC. Scotiabank cut their price objective on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Monday, April 6th. Scotia reduced their price objective on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a research report on Monday, May 25th. The Goldman Sachs Group initiated coverage on shares of Lithium Americas in a research note on Wednesday, July 1st. They set a “neutral” rating and a $4.50 target price on the stock. Wedbush started coverage on Lithium Americas in a research report on Monday, April 20th. They issued a “neutral” rating and a $8.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, July 24th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.44.

Lithium Americas Stock Up 4.0%

NYSE LAC opened at $2.98 on Friday. Lithium Americas has a 1 year low of $2.53 and a 1 year high of $10.52. The stock has a market capitalization of $1.05 billion, a PE ratio of -7.28 and a beta of 2.58. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 7.36. The business’s 50-day moving average is $3.90 and its 200 day moving average is $4.51.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LAC. Main Street Group LTD purchased a new position in shares of Lithium Americas during the 1st quarter worth $26,000. Steward Partners Investment Advisory LLC lifted its position in shares of Lithium Americas by 149.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after buying an additional 3,550 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Lithium Americas by 1,253.3% in the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after purchasing an additional 6,016 shares in the last quarter. Quarry LP bought a new stake in shares of Lithium Americas in the 3rd quarter worth about $28,000. Finally, Walleye Capital LLC bought a new stake in Lithium Americas in the second quarter worth $28,000.

About Lithium Americas

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.