Lithium Americas (NYSE:LAC) Lowered to Sell Rating by Canaccord Genuity Group

Key Points

• Lithium Americas has been downgraded by Canaccord Genuity Group from a "speculative buy" to a "sell" rating, indicating a bearish outlook for the stock.
• Other analysts have also revised their ratings, with TD Securities and Cowen both lowering their ratings to "hold" with a price target of $5, while Wedbush raised their price target to $8.
• Despite the downgrade, institutional investors have increased their holdings, with firms like Harbour Investments boosting their position by over 86% in the last quarter.

Lithium Americas (NYSE:LAC - Get Free Report) was downgraded by equities researchers at Canaccord Genuity Group from a "speculative buy" rating to a "sell" rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports.

Other equities analysts have also issued research reports about the company. TD Securities lowered Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 target price on the stock. in a research note on Thursday, September 25th. TD Cowen reissued a "hold" rating and set a $5.00 price objective on shares of Lithium Americas in a research note on Thursday, September 25th. Wedbush boosted their price objective on shares of Lithium Americas from $5.00 to $8.00 and gave the company a "neutral" rating in a report on Wednesday. Cowen lowered shares of Lithium Americas from a "buy" rating to a "hold" rating in a report on Wednesday, September 24th. Finally, BMO Capital Markets boosted their price target on shares of Lithium Americas from $3.50 to $5.00 and gave the company a "market perform" rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lithium Americas currently has an average rating of "Hold" and an average price target of $5.08.

Lithium Americas Stock Up 23.4%

Shares of NYSE LAC opened at $7.05 on Thursday. Lithium Americas has a 1 year low of $2.31 and a 1 year high of $7.55. The firm's 50-day moving average is $3.31 and its 200-day moving average is $2.98. 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 market capitalization of $1.70 billion, a PE ratio of -30.63 and a beta of 1.38.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings data 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). Equities analysts expect that Lithium Americas will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

Hedge funds and other institutional investors have recently bought and sold shares of the company. 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 acquiring an additional 4,580 shares during the last quarter. Ping Capital Management Inc. acquired a new position in Lithium Americas during the first quarter worth $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Lithium Americas in the first quarter valued at $27,000. Members Wealth LLC acquired a new stake in shares of Lithium Americas in the first quarter valued at about $27,000. Finally, Walleye Capital LLC bought a new stake in Lithium Americas during the second quarter worth about $28,000.

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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