Lithium Americas (NYSE:LAC) Raised to “Neutral” at JPMorgan Chase & Co.

Lithium Americas (NYSE:LAC) was upgraded by stock analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a $5.00 target price on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 2.27% from the stock’s previous close.

Several other research analysts also recently weighed in on LAC. TD Securities downgraded Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 target price for the company. in a research note on Thursday, September 25th. Cormark lowered shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, October 31st. Canaccord Genuity Group lowered shares of Lithium Americas from a “speculative buy” rating to a “sell” rating in a research report on Thursday, October 2nd. Finally, Cowen cut shares of Lithium Americas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.30.

Lithium Americas Price Performance

Shares of LAC stock traded up $0.34 during mid-day trading on Thursday, hitting $4.89. 21,948,542 shares of the stock were exchanged, compared to its average volume of 43,853,336. Lithium Americas has a 52-week low of $2.31 and a 52-week high of $10.52. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.21 billion, a PE ratio of -21.26 and a beta of 1.41. The firm has a fifty day moving average of $5.48 and a 200 day moving average of $3.75.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Research analysts anticipate that Lithium Americas will post -0.12 earnings per share for the current year.

Insiders Place Their Bets

In other Lithium Americas news, VP Alexi Illya Zawadzki sold 353,914 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total value of $3,355,104.72. Following the transaction, the vice president directly owned 40,005 shares in the company, valued at $379,247.40. The trade was a 89.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.11% of the company’s stock.

Institutional Trading of Lithium Americas

A number of hedge funds and other institutional investors have recently modified their holdings of LAC. Old West Investment Management LLC acquired a new position in shares of Lithium Americas during the third quarter worth about $7,647,000. Bank of Montreal Can lifted its stake in Lithium Americas by 3,173.0% in the second quarter. Bank of Montreal Can now owns 846,998 shares of the company’s stock worth $2,266,000 after acquiring an additional 821,120 shares during the last quarter. Invesco Ltd. grew its holdings in Lithium Americas by 38.0% during the 2nd quarter. Invesco Ltd. now owns 1,666,561 shares of the company’s stock worth $4,466,000 after acquiring an additional 459,252 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Lithium Americas in the 2nd quarter valued at approximately $1,057,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Lithium Americas by 44.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after purchasing an additional 324,518 shares during the last quarter.

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.