Lithium Americas (NYSE:LAC) Stock Rating Lowered by Cormark

Key Points

• Cormark has downgraded Lithium Americas from a "moderate buy" rating to a "hold" rating, reflecting a shift in investor sentiment.
• Analysts show mixed views, with three maintaining a "Buy" rating, ten issuing a "Hold," and one assigning a "Sell" rating, leading to a consensus rating of "Hold."
• The company reported a loss of ($0.06) earnings per share for the last quarter, missing projections by ($0.02).

Lithium Americas (NYSE:LAC - Get Free Report) was downgraded by equities researchers at Cormark from a "moderate buy" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

LAC has been the topic of a number of other reports. Cowen downgraded Lithium Americas from a "buy" rating to a "hold" rating in a report on Wednesday, September 24th. 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. Canaccord Genuity Group lowered shares of Lithium Americas from a "speculative buy" rating to a "sell" rating in a research report on Thursday. Wedbush raised their price target on shares of Lithium Americas from $5.00 to $8.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Jefferies Financial Group reduced 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, September 24th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $5.08.

Lithium Americas Trading Down 2.6%

NYSE:LAC opened at $6.86 on Thursday. The firm has a 50-day simple moving average of $3.38 and a 200-day simple moving average of $3.01. Lithium Americas has a one year low of $2.31 and a one year high of $7.55. The firm has a market cap of $1.66 billion, a P/E ratio of -29.80 and a beta of 1.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88.

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

Hedge Funds Weigh In On Lithium Americas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ping Capital Management Inc. purchased a new stake in Lithium Americas during the 1st quarter worth approximately $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Lithium Americas in the first quarter worth $27,000. Members Wealth LLC acquired a new stake in shares of Lithium Americas during the first quarter worth $27,000. Harbour Investments Inc. grew its holdings in shares of Lithium Americas by 86.1% during the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock valued at $27,000 after buying an additional 4,580 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Lithium Americas during the second quarter valued at $28,000.

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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