Lithium Americas (NYSE:LAC) Upgraded by Wall Street Zen to Sell Rating

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.

A number of other research firms also recently weighed in on LAC. Jefferies Financial Group reaffirmed a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. TD Securities raised Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Scotiabank reduced 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Finally, Wedbush initiated coverage on Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.71.

Lithium Americas Trading Down 2.3%

NYSE:LAC opened at $5.02 on Friday. Lithium Americas has a twelve month low of $2.47 and a twelve month high of $10.52. The company has a quick ratio of 5.16, a current ratio of 5.16 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average price of $4.61 and a two-hundred day moving average price of $4.93. The company has a market cap of $1.74 billion, a P/E ratio of -12.25 and a beta of 2.50.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.07. As a group, analysts expect that Lithium Americas will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Several large investors have recently made changes to their positions in LAC. Main Street Group LTD acquired a new stake in shares of Lithium Americas in the 1st quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Lithium Americas by 149.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after buying an additional 3,550 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of 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 stake in shares of Lithium Americas in the 3rd quarter valued at approximately $28,000. Finally, Walleye Capital LLC acquired a new stake in shares of Lithium Americas in the 2nd quarter valued at approximately $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.