Lithium Americas (NYSE:LAC) Earns Hold Rating from TD Cowen

Key Points

• Lithium Americas has received a "hold" rating from TD Cowen with a price target of $5.00, indicating a potential downside of 16.74% from its current stock price.
• Despite recent performance, including a stock price increase of 95.6%, the company's latest earnings report showed a loss per share of ($0.06), missing analyst estimates.
• Lithium Americas' consensus rating stands at "Hold," with three analysts recommending a buy and seven maintaining the hold rating, along with a consensus target price of $4.68.

Lithium Americas (NYSE:LAC - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at TD Cowen in a research note issued to investors on Thursday. They currently have a $5.00 price objective on the stock. TD Cowen's price objective would suggest a potential downside of 16.74% from the stock's current price.

LAC has been the subject of a number of other reports. Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. Jefferies Financial Group dropped their price objective on shares of Lithium Americas from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $4.68.

Lithium Americas Trading Up 95.6%

Shares of Lithium Americas stock opened at $6.01 on Thursday. Lithium Americas has a 12-month low of $2.31 and a 12-month high of $6.30. 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 has a market cap of $1.45 billion, a PE ratio of -26.11 and a beta of 0.70. The company has a 50-day moving average of $2.99 and a two-hundred day moving average of $2.86.

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 analysts' consensus estimates of ($0.04) by ($0.02). On average, research analysts anticipate 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 company. Cacti Asset Management LLC acquired a new stake in Lithium Americas during the first quarter worth approximately $27,000. Members Wealth LLC purchased a new stake in shares of Lithium Americas during the 1st quarter valued at $27,000. Ping Capital Management Inc. purchased a new stake in shares of Lithium Americas during the 1st quarter valued at $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Lithium Americas during the 1st quarter worth $27,000. Finally, Harbour Investments Inc. boosted its position in 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 period.

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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