Lithium Americas (NYSE:LAC) Cut to Hold at TD Securities

Key Points

• Lithium Americas (NYSE: LAC) has been downgraded from a "buy" to a "hold" rating by TD Securities, with a target price of $5.00, indicating a potential downside of 30.28% from the current price.
• Despite the downgrade, the stock saw significant trading activity, with a volume of 184.16 million shares on Thursday, compared to its average of 8.5 million.
• The company reported a loss of ($0.06) EPS, missing analysts' expectations for the quarter, with projections indicating a total of -$0.12 EPS for the current fiscal year.

Lithium Americas (NYSE:LAC - Get Free Report) was downgraded by research analysts at TD Securities from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. They currently have a $5.00 price objective on the stock. TD Securities' target price suggests a potential downside of 30.28% from the stock's current price.

LAC has been the topic of several other research reports. TD Cowen restated a "hold" rating and issued a $5.00 target price on shares of Lithium Americas in a report on Thursday. Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. Jefferies Financial Group decreased their price objective on shares of Lithium Americas from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Cowen downgraded shares of Lithium Americas from a "buy" rating to a "hold" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Lithium Americas has a consensus rating of "Hold" and an average target price of $4.72.

Lithium Americas Stock Performance

LAC stock traded up $1.16 on Thursday, hitting $7.17. The company had a trading volume of 184,156,708 shares, compared to its average volume of 8,505,245. Lithium Americas has a 12-month low of $2.31 and a 12-month high of $7.53. 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 stock's 50-day simple moving average is $2.99 and its 200 day simple moving average is $2.86. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -31.06 and a beta of 0.70.

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

Institutional Trading of Lithium Americas

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. increased its position in Lithium Americas by 86.1% during the second 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. Cacti Asset Management LLC purchased a new position in Lithium Americas in the 1st quarter worth about $27,000. Members Wealth LLC acquired a new position in shares of Lithium Americas during the first quarter worth approximately $27,000. Ping Capital Management Inc. acquired a new position in Lithium Americas in the first quarter valued at about $27,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Lithium Americas during the first quarter valued at approximately $27,000.

Lithium Americas Company Profile

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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