Lithium Americas (NYSE:LAC) Raised to Hold at The Goldman Sachs Group

Lithium Americas (NYSE:LAC) was upgraded by research analysts at The Goldman Sachs Group to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently commented on LAC. Scotia cut their price objective 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. Wall Street Zen upgraded Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Wedbush assumed coverage on Lithium Americas in a report on Monday, April 20th. They set a “neutral” rating and a $8.00 target price for the company. Finally, Scotiabank decreased their price target on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research report on Monday, April 6th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.44.

Lithium Americas Trading Down 1.7%

Shares of NYSE:LAC opened at $3.77 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 7.36 and a current ratio of 7.36. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -9.18 and a beta of 2.47. Lithium Americas has a 1-year low of $2.47 and a 1-year high of $10.52. The company has a 50 day moving average price of $4.80 and a 200 day moving average price of $4.79.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Main Street Group LTD acquired a new stake in shares of Lithium Americas in the first quarter worth $26,000. Steward Partners Investment Advisory LLC boosted its holdings 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 during the period. IFP Advisors Inc grew its stake in Lithium Americas by 1,253.3% in the 4th 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 last quarter. Quarry LP acquired a new position in Lithium Americas in the 3rd quarter valued at $28,000. Finally, Walleye Capital LLC bought a new position in Lithium Americas in the 2nd quarter worth $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.