Lithium Americas Corp. (NYSE:LAC) Receives Average Rating of “Hold” from Brokerages

Lithium Americas Corp. (NYSE:LAC) has been assigned an average rating of “Hold” from the fourteen research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.8125.

A number of equities research analysts have weighed in on LAC shares. BMO Capital Markets upped their price objective on shares of Lithium Americas from $3.50 to $5.00 and gave the stock a “market perform” rating in a report on Thursday, October 2nd. Wedbush boosted their price target on Lithium Americas from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, October 31st. Jefferies Financial Group lowered their price objective on Lithium Americas from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Finally, JPMorgan Chase & Co. raised Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Thursday, November 6th.

Lithium Americas Price Performance

Shares of LAC stock opened at $5.97 on Monday. The business’s fifty day moving average is $5.08 and its 200 day moving average is $4.56. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -5.69 and a beta of 1.57. Lithium Americas has a twelve month low of $2.31 and a twelve month high of $10.52.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Research analysts expect that Lithium Americas will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 sale, the senior vice president directly owned 135,466 shares of the company’s stock, valued at approximately $609,597. This represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 10,960 shares of company stock worth $49,372. Corporate insiders own 1.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in shares of Lithium Americas by 44.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock worth $2,836,000 after purchasing an additional 324,518 shares in the last quarter. Teamwork Financial Advisors LLC lifted its holdings in shares of Lithium Americas by 18.1% during the second quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock valued at $2,714,000 after purchasing an additional 155,068 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Lithium Americas by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 328,582 shares of the company’s stock valued at $874,000 after buying an additional 15,898 shares during the last quarter. Bank of Montreal Can increased its holdings in Lithium Americas by 3,173.0% in the 2nd quarter. Bank of Montreal Can now owns 846,998 shares of the company’s stock worth $2,266,000 after buying an additional 821,120 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its position in Lithium Americas by 33.9% in the 2nd quarter. Axxcess Wealth Management LLC now owns 16,582 shares of the company’s stock worth $44,000 after buying an additional 4,200 shares during the last quarter.

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.