Cormark Downgrades Lithium Americas (NYSE:LAC) to Hold

Cormark cut shares of Lithium Americas (NYSE:LAC) from a moderate buy rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also issued reports on LAC. TD Securities lowered shares of Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 target price for the company. in a research report on Thursday, September 25th. Cowen lowered shares of Lithium Americas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Wedbush upped their price target on shares of Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday. Canaccord Genuity Group lowered shares of Lithium Americas from a “speculative buy” rating to a “sell” rating in a research report on Thursday. Finally, TD Cowen restated a “hold” rating and set a $5.00 price target on shares of Lithium Americas in a research report on Thursday, September 25th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.08.

Lithium Americas Stock Down 2.6%

Shares of NYSE:LAC opened at $6.86 on Thursday. Lithium Americas has a 52-week low of $2.31 and a 52-week high of $7.55. The firm has a fifty day moving average of $3.38 and a 200 day moving average of $3.01. The firm has a market capitalization of $1.66 billion, a PE ratio of -29.80 and a beta of 1.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). As a group, research analysts anticipate that Lithium Americas will post -0.12 EPS for the current fiscal year.

Institutional Trading of Lithium Americas

A number of institutional investors have recently modified their holdings of LAC. Ameriprise Financial Inc. boosted its holdings in shares of Lithium Americas by 4.4% during the fourth quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company’s stock worth $309,000 after purchasing an additional 4,379 shares during the period. UMB Bank n.a. purchased a new stake in shares of Lithium Americas during the first quarter worth about $373,000. Members Wealth LLC bought a new position in Lithium Americas in the first quarter worth about $27,000. Matauro LLC bought a new position in Lithium Americas in the first quarter worth about $46,000. Finally, Golden State Wealth Management LLC bought a new position in Lithium Americas in the first quarter worth about $73,000.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.