Cormark Upgrades Lithium Americas (NYSE:LAC) to "Moderate Buy"

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 note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Wedbush reissued a "neutral" rating and set a $5.00 price target on shares of Lithium Americas in a report on Friday, May 16th. National Bank Financial lowered Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Finally, National Bankshares lowered Lithium Americas from an "outperform" rating to a "sector perform" rating in a report on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $4.15.

Lithium Americas Stock Performance

Shares of LAC traded up $0.0320 during midday trading on Wednesday, reaching $2.7820. 4,633,329 shares of the stock were exchanged, compared to its average volume of 8,343,866. The business's 50-day moving average price is $2.80 and its 200 day moving average price is $2.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.88 and a quick ratio of 10.35. Lithium Americas has a twelve month low of $2.11 and a twelve month high of $5.20. The company has a market capitalization of $621.30 million, a price-to-earnings ratio of -12.10 and a beta of 0.68.

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). On average, sell-side analysts expect that Lithium Americas will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its position in shares of Lithium Americas by 3.9% during the 4th quarter. Mackenzie Financial Corp now owns 87,701 shares of the company's stock worth $262,000 after purchasing an additional 3,310 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of Lithium Americas by 33.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 16,582 shares of the company's stock worth $44,000 after purchasing an additional 4,200 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Lithium Americas by 4.4% during the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company's stock worth $309,000 after purchasing an additional 4,379 shares during the last quarter. HITE Hedge Asset Management LLC raised its position in shares of Lithium Americas by 0.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company's stock worth $1,994,000 after purchasing an additional 4,445 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Lithium Americas by 86.1% during the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock worth $27,000 after purchasing an additional 4,580 shares during 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.