Lithium Americas (NYSE:LAC) Receives “Overweight” Rating from JPMorgan Chase & Co.

Lithium Americas (NYSE:LAC)‘s stock had its “overweight” rating reissued by stock analysts at JPMorgan Chase & Co. in a research report issued on Wednesday, Benzinga reports. They currently have a $6.00 price target on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 91.39% from the company’s current price.

Several other equities analysts also recently weighed in on LAC. BMO Capital Markets reduced their target price on shares of Lithium Americas from $4.50 to $4.00 and set a “market perform” rating for the company in a research note on Friday, August 14th. The Goldman Sachs Group started coverage on shares of Lithium Americas in a research note on Wednesday, July 1st. They set a “neutral” rating and a $4.50 price target on the stock. Scotia cut their price objective on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a report on Monday, May 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.44.

Lithium Americas Stock Performance

Shares of NYSE LAC traded up $0.14 during trading on Wednesday, reaching $3.13. 10,451,911 shares of the stock traded hands, compared to its average volume of 11,148,039. Lithium Americas has a 52-week low of $2.67 and a 52-week high of $10.52. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.47 and a quick ratio of 5.47. The company has a 50-day moving average of $3.15 and a 200-day moving average of $4.11. The stock has a market capitalization of $1.14 billion, a P/E ratio of -8.45 and a beta of 2.59.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Analysts forecast that Lithium Americas will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LAC. Lido Advisors LLC boosted its position in shares of Lithium Americas by 15.1% during the 3rd quarter. Lido Advisors LLC now owns 16,643 shares of the company’s stock valued at $95,000 after acquiring an additional 2,183 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Lithium Americas by 16.1% during the third quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock worth $96,000 after purchasing an additional 2,321 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Lithium Americas by 3.6% in the third quarter. Public Employees Retirement System of Ohio now owns 67,650 shares of the company’s stock worth $394,000 after purchasing an additional 2,356 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Lithium Americas by 6.2% in the first quarter. Pictet Asset Management Holding SA now owns 43,277 shares of the company’s stock valued at $171,000 after purchasing an additional 2,539 shares in the last quarter. Finally, Sprott Inc. raised its stake in Lithium Americas by 18.7% in the fourth quarter. Sprott Inc. now owns 16,087 shares of the company’s stock valued at $70,000 after purchasing an additional 2,540 shares in 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.