Lithium Americas (NYSE:LAC) Rating Increased to Moderate Buy at Cormark

Key Points

• Analysts at Cormark have upgraded Lithium Americas (NYSE:LAC) to a "moderate buy" rating, contrasting with prior downgrades from other financial institutions.
• Lithium Americas shares have recently traded down by 2.7%, with a market capitalization of approximately $598.69 million and an average price target of $4.15 from analysts.
• The company reported an earnings miss, with EPS of ($0.06) falling short of expectations, while future earnings projections suggest a trend of negative growth.

Lithium Americas (NYSE:LAC - Get Free Report) was upgraded by equities researchers at Cormark to a "moderate buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on LAC. Wedbush reissued a "neutral" rating and set a $5.00 target price on shares of Lithium Americas in a research report on Friday, May 16th. National Bankshares downgraded shares of Lithium Americas from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 16th. Finally, National Bank Financial downgraded shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $4.15.

Lithium Americas Price Performance

Shares of LAC stock traded up $0.01 on Wednesday, reaching $2.84. The company had a trading volume of 2,114,538 shares, compared to its average volume of 5,595,854. The stock has a market capitalization of $633.13 million, a PE ratio of -12.33 and a beta of 0.68. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33. Lithium Americas has a one year low of $2.11 and a one year high of $5.20. The business's 50-day moving average is $2.81 and its 200 day moving average is $2.82.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). Equities research analysts forecast that Lithium Americas will post -0.12 EPS for the current fiscal year.

Institutional Trading of Lithium Americas

Hedge funds have recently bought and sold shares of the business. Cacti Asset Management LLC bought a new position in Lithium Americas during the 1st quarter valued at $27,000. Members Wealth LLC bought a new position in Lithium Americas during the 1st quarter valued at $27,000. Ping Capital Management Inc. bought a new position in Lithium Americas during the 1st quarter valued at $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Lithium Americas during the 1st quarter valued at $27,000. Finally, Harbour Investments Inc. lifted its stake in Lithium Americas by 86.1% during the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock valued at $27,000 after acquiring an additional 4,580 shares in the last quarter.

About Lithium Americas

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.