Lithium Americas Corp. (NYSE:LAC) Given Average Recommendation of “Hold” by Brokerages

Lithium Americas Corp. (NYSE:LAC) has been given an average rating of “Hold” by the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $5.8125.

LAC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research note on Thursday, November 6th. Scotiabank raised their target price on Lithium Americas from $5.00 to $7.00 and gave the company a “sector perform” rating in a report on Monday, January 12th. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a report on Wednesday, January 28th. Finally, Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st.

Insider Transactions at Lithium Americas

In other Lithium Americas news, SVP Edward Grandy sold 6,183 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $4.50, for a total value of $27,823.50. Following the sale, the senior vice president directly owned 135,466 shares in the company, valued at $609,597. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 10,960 shares of company stock valued at $49,372. Company insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently made changes to their positions in the stock. Traynor Capital Management Inc. increased its stake in Lithium Americas by 19.7% during the third quarter. Traynor Capital Management Inc. now owns 12,449 shares of the company’s stock valued at $71,000 after acquiring an additional 2,046 shares during the period. Lido Advisors LLC increased its position in shares of Lithium Americas by 15.1% during the third quarter. Lido Advisors LLC now owns 16,643 shares of the company’s stock valued at $95,000 after purchasing an additional 2,183 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Lithium Americas by 16.1% in the third quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock valued at $96,000 after purchasing an additional 2,321 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Lithium Americas by 3.6% in the third quarter. Public Employees Retirement System of Ohio now owns 67,650 shares of the company’s stock worth $394,000 after purchasing an additional 2,356 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Lithium Americas by 0.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company’s stock worth $1,405,000 after buying an additional 2,491 shares in the last quarter.

Lithium Americas Price Performance

Shares of Lithium Americas stock opened at $4.75 on Friday. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.84. The firm has a fifty day simple moving average of $5.21 and a 200-day simple moving average of $4.85. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -4.52 and a beta of 1.55. Lithium Americas has a 1-year low of $2.31 and a 1-year high of $10.52.

Lithium Americas (NYSE:LAC) last posted its earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. On average, sell-side analysts expect that Lithium Americas will post -0.12 earnings per share for the current year.

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.