Lithium Americas (NYSE:LAC) Receives "Sell (E+)" Rating from Weiss Ratings

Lithium Americas (NYSE:LAC - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently weighed in on LAC. Wedbush boosted their price target on shares of Lithium Americas from $5.00 to $8.00 and gave the company a "neutral" rating in a research report on Wednesday, October 1st. Jefferies Financial Group lowered their price target 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, September 24th. TD Securities cut shares of Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 price target on the stock. in a research report on Thursday, September 25th. Scotiabank reissued a "sector underperform" rating and set a $5.00 price target (up previously from $2.75) on shares of Lithium Americas in a research report on Monday. Finally, TD Cowen reissued a "hold" rating and set a $5.00 price target on shares of Lithium Americas in a research report on Thursday, September 25th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Lithium Americas has an average rating of "Hold" and an average target price of $5.33.

Lithium Americas Trading Down 4.6%

Shares of LAC opened at $7.89 on Wednesday. Lithium Americas has a 52-week low of $2.31 and a 52-week high of $9.48. 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 firm's fifty day moving average is $3.83 and its two-hundred day moving average is $3.16. The stock has a market cap of $1.91 billion, a PE ratio of -34.30 and a beta of 1.43.

Lithium Americas (NYSE:LAC - Get Free Report) last announced 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). Research analysts forecast that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at Lithium Americas

In related news, VP Alexi Illya Zawadzki sold 353,914 shares of the business's 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 sale, the vice president directly owned 40,005 shares in the company, valued at approximately $379,247.40. The trade was a 89.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.11% of the company's stock.

Institutional Trading of Lithium Americas

A number of institutional investors and hedge funds have recently bought and sold shares of LAC. Bank of Montreal Can increased its stake in Lithium Americas by 3,173.0% during the second quarter. Bank of Montreal Can now owns 846,998 shares of the company's stock worth $2,266,000 after purchasing an additional 821,120 shares during the period. Invesco Ltd. increased its stake in Lithium Americas by 38.0% during the second quarter. Invesco Ltd. now owns 1,666,561 shares of the company's stock worth $4,466,000 after purchasing an additional 459,252 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Lithium Americas during the second quarter worth about $1,057,000. Goldman Sachs Group Inc. increased its stake in Lithium Americas by 44.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company's stock worth $2,836,000 after purchasing an additional 324,518 shares during the period. Finally, Teamwork Financial Advisors LLC increased its stake in Lithium Americas by 26.6% during the third quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company's stock worth $7,319,000 after purchasing an additional 268,918 shares during the period.

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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