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

Wall Street Zen cut shares of Lithium Americas (NYSE:LAC) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

A number of other research analysts have also weighed in on LAC. Wedbush began coverage on shares of Lithium Americas in a research note on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, July 24th. Scotia dropped their price target on shares of 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. The Goldman Sachs Group assumed coverage on Lithium Americas in a research note on Wednesday, July 1st. They set a “neutral” rating and a $4.50 price target for the company. Finally, Scotiabank decreased their price objective on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a report on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.44.

Lithium Americas Stock Performance

NYSE LAC opened at $2.87 on Friday. The company has a market cap of $1.01 billion, a P/E ratio of -6.99 and a beta of 2.47. The company has a fifty day simple moving average of $3.94 and a 200 day simple moving average of $4.54. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.65. Lithium Americas has a 12-month low of $2.47 and a 12-month high of $10.52.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently modified their holdings of the company. Teamwork Financial Advisors LLC grew its holdings in shares of Lithium Americas by 3.9% in the second quarter. Teamwork Financial Advisors LLC now owns 893,395 shares of the company’s stock valued at $3,440,000 after acquiring an additional 33,475 shares in the last quarter. VectorGlobal IAG Inc. purchased a new stake in shares of Lithium Americas during the first quarter valued at approximately $76,000. J. Derek Lewis & Associates Inc. lifted its holdings in Lithium Americas by 13.6% during the first quarter. J. Derek Lewis & Associates Inc. now owns 25,000 shares of the company’s stock worth $99,000 after acquiring an additional 3,000 shares during the period. Western Wealth Management LLC bought a new stake in Lithium Americas during the first quarter worth $45,000. Finally, RBF Capital LLC purchased a new position in Lithium Americas in the first quarter worth $59,000.

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.