Lithium Americas (NYSE:LAC) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Lithium Americas from “sell” to “strong sell,” while the broader analyst consensus remains “hold,” with an average price target of $5.44.
• Lithium Americas shares opened at $2.87, down 0.9%, and remain near their 12-month low of $2.47 versus a high of $10.52.
• Several institutional investors recently initiated or expanded positions in the company, including Steward Partners Investment Advisory, IFP Advisors, and Walleye Capital.

Lithium Americas (NYSE:LAC - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also recently issued reports about the company. Scotia dropped their target price on Lithium Americas from $5.00 to $4.50 and set a "sector perform" rating for the company in a report on Monday, May 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lithium Americas in a research report on Friday, July 24th. Wedbush initiated coverage on Lithium Americas in a research note on Monday, April 20th. They set a "neutral" rating and a $8.00 price objective for the company. Scotiabank dropped their price objective on Lithium Americas from $7.00 to $5.00 and set a "sector perform" rating for the company in a research note on Monday, April 6th. Finally, The Goldman Sachs Group started coverage on Lithium Americas in a report on Wednesday, July 1st. They set a "neutral" rating and a $4.50 price objective for the company. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lithium Americas presently has an average rating of "Hold" and an average target price of $5.44.

Lithium Americas Stock Down 0.9%

Shares of LAC opened at $2.87 on Friday. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $3.94 and a two-hundred day moving average price of $4.54. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -6.99 and a beta of 2.47. Lithium Americas has a 12 month low of $2.47 and a 12 month high of $10.52.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LAC. Main Street Group LTD bought a new stake in Lithium Americas during the 1st quarter worth approximately $26,000. Steward Partners Investment Advisory LLC increased its holdings in Lithium Americas by 149.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company's stock valued at $26,000 after purchasing an additional 3,550 shares in the last quarter. IFP Advisors Inc raised its position in Lithium Americas by 1,253.3% in the 4th quarter. IFP Advisors Inc now owns 6,496 shares of the company's stock valued at $28,000 after purchasing an additional 6,016 shares during the last quarter. Quarry LP bought a new position in Lithium Americas in the 3rd quarter valued at $28,000. Finally, Walleye Capital LLC acquired a new position in Lithium Americas in the second quarter worth $28,000.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas' two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.

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