Lithium Americas (NYSE:LAC) Trading Up 1.1% – Still a Buy?

Lithium Americas Corp. (NYSE:LAC) shot up 1.1% on Wednesday . The company traded as high as $5.13 and last traded at $5.0450. 9,353,679 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 11,915,304 shares. The stock had previously closed at $4.99.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LAC. Scotia dropped their price target on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a research report on Monday. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Jefferies Financial Group reiterated a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Finally, TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.56.

Lithium Americas Stock Up 1.1%

The firm’s fifty day moving average price is $4.65 and its 200-day moving average price is $4.90. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -12.30 and a beta of 2.50. 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 (NYSE:LAC) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.07. Sell-side analysts expect that Lithium Americas Corp. will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LAC. Main Street Group LTD acquired a new position in shares of Lithium Americas during the first quarter worth $26,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Lithium Americas by 149.2% during 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 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 purchasing 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 bought a new stake in shares of Lithium Americas in the second quarter worth $28,000.

Lithium Americas Company Profile

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.