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

Key Points

• Lithium Americas Corp. has a consensus recommendation of "Hold" from fifteen analysts, with two sell ratings, ten holds, and three buys.
• The company's share price recently increased by 31.3%, with a current trading price around $9.01, compared to a 12-month low of $2.31 and a high of $9.33.
• Notable insider activity includes VP Alexi Illya Zawadzki selling 353,914 shares for approximately $3.36 million, representing an 89.84% decrease in their position.

Shares of Lithium Americas Corp. (NYSE:LAC - Get Free Report) have received a consensus recommendation of "Hold" from the fifteen analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.0833.

A number of research analysts recently weighed in on LAC shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Lithium Americas in a research report on Saturday, September 27th. Canaccord Genuity Group downgraded shares of Lithium Americas from a "speculative buy" rating to a "sell" rating in a research report on Thursday. BMO Capital Markets raised their target price on shares of Lithium Americas from $3.50 to $5.00 and gave the company a "market perform" rating in a research report on Thursday. Wedbush raised their target price on shares of Lithium Americas from $5.00 to $8.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Cormark downgraded shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a research report on Thursday.

Lithium Americas Trading Up 31.3%

Shares of NYSE:LAC opened at $9.01 on Friday. Lithium Americas has a 12 month low of $2.31 and a 12 month high of $9.33. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33. The company's fifty day simple moving average is $3.50 and its 200 day simple moving average is $3.05. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -39.15 and a beta of 1.43.

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

Insider Activity at Lithium Americas

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of Lithium Americas stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total value of $3,355,104.72. Following the completion of the transaction, the vice president owned 40,005 shares of the company's stock, valued at $379,247.40. This trade represents a 89.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. grew its position in shares of Lithium Americas by 71.2% in the 2nd quarter. Osaic Holdings Inc. now owns 86,748 shares of the company's stock valued at $232,000 after acquiring an additional 36,086 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Lithium Americas by 72.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 35,998 shares of the company's stock worth $96,000 after buying an additional 15,123 shares during the last quarter. IHT Wealth Management LLC acquired a new stake in shares of Lithium Americas during the 2nd quarter worth about $28,000. Engineers Gate Manager LP lifted its stake in shares of Lithium Americas by 165.3% during the 2nd quarter. Engineers Gate Manager LP now owns 120,366 shares of the company's stock worth $322,000 after buying an additional 75,000 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Lithium Americas during the 2nd quarter worth about $1,057,000.

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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