Lithium Americas (NYSE:LAC) Upgraded to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Lithium Americas from “strong sell” to “sell,” while the broader analyst consensus remains “Hold” with a $5.33 target price.
• Several analysts recently reduced their price targets, with current ratings largely neutral; targets cited range from $4.00 to $8.00.
• Lithium Americas shares opened at $3.38, near the lower end of their 52-week range, although the company beat quarterly earnings expectations by reporting a $0.02 loss per share versus the anticipated $0.04 loss.

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

Several other equities research analysts have also commented on the company. Scotia dropped their price target on Lithium Americas from $5.00 to $4.50 and set a "sector perform" rating for the company in a research note on Monday, May 25th. Wedbush initiated coverage on Lithium Americas in a research note on Monday, April 20th. They issued a "neutral" rating and a $8.00 price objective on the stock. BMO Capital Markets decreased their target price on Lithium Americas from $4.50 to $4.00 and set a "market perform" rating for the company in a report on Friday. The Goldman Sachs Group started coverage on shares of Lithium Americas in a research report on Wednesday, July 1st. They set a "neutral" rating and a $4.50 target price for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Lithium Americas in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.33.

Lithium Americas Trading Down 1.3%

LAC stock opened at $3.38 on Friday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -9.15 and a beta of 2.57. 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 business has a fifty day simple moving average of $3.55 and a 200-day simple moving average of $4.35. Lithium Americas has a 52 week low of $2.66 and a 52 week high of $10.52.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. On average, equities research analysts expect that Lithium Americas will post -0.14 EPS for the current year.

Institutional Trading of Lithium Americas

Several large investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Lithium Americas during the third quarter worth about $28,000. Steward Partners Investment Advisory LLC boosted its position in shares of Lithium Americas by 149.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company's stock worth $26,000 after buying an additional 3,550 shares during the period. Main Street Group LTD acquired a new stake in shares of Lithium Americas in the first quarter valued at about $26,000. IFP Advisors Inc grew its stake in shares of Lithium Americas by 1,253.3% in the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company's stock valued at $28,000 after buying an additional 6,016 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Lithium Americas in the fourth quarter valued at about $42,000.

Lithium Americas Company Profile

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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