Jefferies Financial Group Issues Pessimistic Forecast for Lithium Americas (NYSE:LAC) Stock Price

Key Points

• Jefferies Financial Group lowered its price target for Lithium Americas (NYSE:LAC) from $8.00 to $7.00, suggesting a potential upside of 128.38% from the previous close.
• Despite the downgrade, the stock currently has a "buy" rating from Jefferies, while Cormark upgraded it to a "moderate buy," amidst mixed ratings with a majority of analysts recommending a hold.
• Lithium Americas reported a loss of $(0.06) EPS for the last quarter, which was worse than the consensus estimate of $(0.04), and analysts project a further loss of $(0.12) EPS for the current year.

Lithium Americas (NYSE:LAC - Get Free Report) had its price target decreased by stock analysts at Jefferies Financial Group from $8.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's price target suggests a potential upside of 128.38% from the stock's previous close.

Separately, Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. Three equities 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, Lithium Americas has an average rating of "Hold" and an average target price of $4.63.

Lithium Americas Stock Performance

Lithium Americas stock opened at $3.07 on Wednesday. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average of $2.93 and a 200-day moving average of $2.84. The firm has a market cap of $740.69 million, a P/E ratio of -13.33 and a beta of 0.70. Lithium Americas has a 1-year low of $2.31 and a 1-year high of $5.20.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Sell-side analysts expect that Lithium Americas will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LAC. Ameriprise Financial Inc. boosted its stake 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 acquiring an additional 4,379 shares during the last quarter. Toronto Dominion Bank increased its holdings in Lithium Americas by 44.1% in the 4th quarter. Toronto Dominion Bank now owns 27,679 shares of the company's stock valued at $82,000 after acquiring an additional 8,466 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Lithium Americas by 3.9% in the 4th quarter. Mackenzie Financial Corp now owns 87,701 shares of the company's stock worth $262,000 after buying an additional 3,310 shares during the last quarter. Cacti Asset Management LLC bought a new stake in shares of Lithium Americas in the 1st quarter worth about $27,000. Finally, Teamwork Financial Advisors LLC increased its holdings in shares of Lithium Americas by 20.1% in the 1st quarter. Teamwork Financial Advisors LLC now owns 857,754 shares of the company's stock worth $2,325,000 after buying an additional 143,373 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.

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