Lithium Americas (NYSE:LAC) Upgraded by Wall Street Zen to “Sell” Rating

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

A number of other analysts also recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Lithium Americas in a report on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 target price on the stock. BMO Capital Markets lowered their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Friday. Scotia dropped their price target on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a research report on Monday, May 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, July 24th. Finally, Wedbush assumed coverage on Lithium Americas in a research report on Monday, April 20th. They set a “neutral” rating and a $8.00 price objective on the stock. Two 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, Lithium Americas presently has an average rating of “Hold” and a consensus target price of $5.33.

Lithium Americas Stock Performance

NYSE LAC opened at $3.38 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 7.36. Lithium Americas has a 1-year low of $2.66 and a 1-year high of $10.52. The business has a 50 day simple moving average of $3.55 and a two-hundred day simple moving average of $4.35. The stock has a market capitalization of $1.19 billion, a PE ratio of -9.15 and a beta of 2.57.

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

Institutional Trading of Lithium Americas

A number of large investors have recently modified their holdings of the company. Main Street Group LTD purchased a new position in Lithium Americas during the 1st quarter worth $26,000. Steward Partners Investment Advisory LLC grew its position in shares of Lithium Americas by 149.2% during the 4th 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 increased its stake in shares of Lithium Americas by 1,253.3% during the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after buying an additional 6,016 shares during the period. Quarry LP purchased a new position in shares of Lithium Americas during the third quarter valued at $28,000. Finally, Walleye Capital LLC bought a new stake in shares of Lithium Americas in the second quarter valued at about $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.