Lithium Americas (NYSE:LAC) Given "Underweight" Rating at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reissued an "underweight" rating for Lithium Americas with a price target of $5.00, suggesting a potential downside of 47.12% from the last closing price.
• Recent analyst ratings show mixed sentiments, with three analysts rating it as a buy, nine as hold, and four as sell, reflecting an average rating of "Reduce."
• Insider activity includes a significant stock sale by VP Alexi Illya Zawadzki, liquidating nearly 90% of their shares, which may indicate concerns within the company's leadership.

Lithium Americas (NYSE:LAC - Get Free Report)'s stock had its "underweight" rating reissued by equities research analysts at JPMorgan Chase & Co. in a report released on Thursday,Benzinga reports. They currently have a $5.00 price objective on the stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 47.12% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. TD Securities cut shares of Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 target price for the company. in a research note on Thursday, September 25th. BMO Capital Markets boosted their price target on shares of Lithium Americas from $3.50 to $5.00 and gave the stock a "market perform" rating in a report on Thursday, October 2nd. Jefferies Financial Group cut their price target on shares of Lithium Americas from $8.00 to $7.00 and set a "buy" rating for the company in a report on Wednesday, September 24th. Weiss Ratings reissued a "sell (e+)" rating on shares of Lithium Americas in a report on Wednesday, October 8th. Finally, Cormark lowered shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a report on Thursday, October 2nd. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $5.30.

Lithium Americas Stock Performance

LAC opened at $9.46 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.88 and a quick ratio of 9.88. The firm has a fifty day moving average price of $4.45 and a 200 day moving average price of $3.36. Lithium Americas has a 1 year low of $2.31 and a 1 year high of $10.52. The stock has a market cap of $2.29 billion, a P/E ratio of -41.11 and a beta of 1.43.

Lithium Americas (NYSE:LAC - Get Free Report) last posted 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). Equities research analysts anticipate that Lithium Americas will post -0.12 earnings per share for the current year.

Insider Activity

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the completion of the sale, the vice president owned 40,005 shares of the company's stock, valued at $379,247.40. This represents a 89.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Lithium Americas

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Lithium Americas by 1.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company's stock valued at $7,350,000 after acquiring an additional 45,941 shares during the last quarter. Invesco Ltd. boosted its position in shares of Lithium Americas by 38.0% during the 2nd quarter. Invesco Ltd. now owns 1,666,561 shares of the company's stock valued at $4,466,000 after acquiring an additional 459,252 shares during the last quarter. Teamwork Financial Advisors LLC boosted its position in shares of Lithium Americas by 26.6% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company's stock valued at $7,319,000 after acquiring an additional 268,918 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Lithium Americas by 44.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company's stock valued at $2,836,000 after acquiring an additional 324,518 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Lithium Americas by 3,173.0% during the 2nd quarter. Bank of Montreal Can now owns 846,998 shares of the company's stock valued at $2,266,000 after acquiring an additional 821,120 shares during the last quarter.

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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