Lithium Americas (NYSE:LAC) Upgraded at Wall Street Zen

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

Several other equities analysts also recently weighed in on the company. Scotia lowered their target price on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a research report on Monday, May 25th. BMO Capital Markets reduced their price target on Lithium Americas from $4.50 to $4.00 and set a “market perform” rating for the company in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, July 24th. The Goldman Sachs Group initiated coverage on Lithium Americas in a research report on Wednesday, July 1st. They set a “neutral” rating and a $4.50 price objective on the stock. Finally, Wedbush initiated coverage on Lithium Americas in a research note on Monday, April 20th. They set a “neutral” rating and a $8.00 price objective for the company. 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’s stock. Based on data from MarketBeat.com, Lithium Americas currently has a consensus rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Trading Down 7.7%

Shares of Lithium Americas stock opened at $3.12 on Friday. Lithium Americas has a 1-year low of $2.66 and a 1-year high of $10.52. The company’s fifty day simple moving average is $3.52 and its 200-day simple moving average is $4.31. 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 stock has a market capitalization of $1.10 billion, a PE ratio of -8.43 and a beta of 2.58.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. As a group, equities analysts anticipate that Lithium Americas will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Lithium Americas by 229.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 565,135 shares of the company’s stock worth $2,231,000 after buying an additional 393,842 shares in the last quarter. Kailix Advisors LLC bought a new stake in Lithium Americas during the fourth quarter valued at about $5,123,000. Firetrail Investments PTY Ltd. purchased a new position in shares of Lithium Americas in the second quarter valued at about $17,542,000. Revisor Wealth Management LLC lifted its position in shares of Lithium Americas by 123.7% in the fourth quarter. Revisor Wealth Management LLC now owns 366,418 shares of the company’s stock valued at $1,598,000 after acquiring an additional 202,594 shares in the last quarter. Finally, Credit Industriel ET Commercial bought a new position in shares of Lithium Americas in the first quarter worth about $908,000.

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.