Lithium Americas (NYSE:LAC) Sets New 1-Year High - Still a Buy?

Key Points

• Lithium Americas Corp. shares reached a new 52-week high of $5.88 during trading, significantly up from a previous close of $3.07.
• Analysts have mixed ratings on Lithium Americas, with Jefferies reducing the price target from $8.00 to $7.00 while maintaining a "buy" rating, and a consensus rating of "Hold" with a target price of $4.63.
• The company reported a quarterly loss with an EPS of ($0.06), which was below the consensus estimate of ($0.04), and analysts predict an EPS of -$0.12 for the current year.

Shares of Lithium Americas Corp. (NYSE:LAC - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $5.88 and last traded at $5.83, with a volume of 89531736 shares trading hands. The stock had previously closed at $3.07.

Analyst Ratings Changes

A number of research analysts recently weighed in on LAC shares. 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 report on Wednesday. Cormark raised shares of Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $4.63.

Lithium Americas Stock Performance

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 moving average price is $2.93 and its two-hundred day moving average price is $2.84. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -26.64 and a beta of 0.70.

Lithium Americas (NYSE:LAC - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). On average, analysts forecast that Lithium Americas Corp. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LAC. Ameriprise Financial Inc. increased its position in Lithium Americas by 4.4% during the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company's stock worth $309,000 after purchasing an additional 4,379 shares in the last quarter. Toronto Dominion Bank grew its position in Lithium Americas by 44.1% in the fourth quarter. Toronto Dominion Bank now owns 27,679 shares of the company's stock valued at $82,000 after acquiring an additional 8,466 shares in the last quarter. Mackenzie Financial Corp grew its position in Lithium Americas by 3.9% in the fourth quarter. Mackenzie Financial Corp now owns 87,701 shares of the company's stock valued at $262,000 after acquiring an additional 3,310 shares in the last quarter. Cacti Asset Management LLC purchased a new position in shares of Lithium Americas during the 1st quarter valued at approximately $27,000. Finally, Teamwork Financial Advisors LLC boosted its stake in shares of Lithium Americas by 20.1% during the 1st quarter. Teamwork Financial Advisors LLC now owns 857,754 shares of the company's stock valued at $2,325,000 after buying an additional 143,373 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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