Lithium Americas (NYSE:LAC) Raised to Sell at Wall Street Zen

Lithium Americas (NYSE:LAC) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday.

Several other brokerages also recently issued reports on LAC. Wedbush initiated coverage on shares of Lithium Americas in a research report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, July 24th. The Goldman Sachs Group initiated coverage on shares of Lithium Americas in a research note on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 target price for the company. Scotia dropped their price target on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a research note on Monday, May 25th. Finally, BMO Capital Markets dropped their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “market perform” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.33.

Lithium Americas Price Performance

LAC stock opened at $3.38 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.47 and a current ratio of 5.47. Lithium Americas has a 1 year low of $2.66 and a 1 year high of $10.52. The firm has a market cap of $1.19 billion, a P/E ratio of -9.15 and a beta of 2.58. The stock has a 50-day simple moving average of $3.55 and a 200-day simple moving average of $4.34.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, August 13th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. On average, equities analysts predict that Lithium Americas will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Hedge funds and other institutional investors have recently bought and sold shares of the business. Main Street Group LTD purchased a new position in shares of Lithium Americas during the 1st quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC increased its stake 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 during the last quarter. IFP Advisors Inc increased its stake 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 worth $28,000 after buying an additional 6,016 shares during the last quarter. Quarry LP bought a new stake in shares of Lithium Americas in the third quarter worth $28,000. Finally, Walleye Capital LLC acquired a new stake in Lithium Americas in the second quarter valued at $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.