Lithium Americas Corp. (NYSE:LAC) Given Average Recommendation of “Reduce” by Analysts

Lithium Americas Corp. (NYSE:LAC) has received a consensus recommendation of “Reduce” from the sixteen brokerages that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.30.

LAC has been the subject of a number of research reports. Scotiabank reiterated a “sector underperform” rating and issued a $5.00 price target (up from $2.75) on shares of Lithium Americas in a research note on Monday, October 6th. TD Securities downgraded Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 target price on the stock. in a report on Thursday, September 25th. TD Cowen reiterated a “hold” rating and issued a $5.00 price target on shares of Lithium Americas in a report on Thursday, September 25th. Cormark lowered Lithium Americas from a “moderate buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Finally, Cowen downgraded shares of Lithium Americas from a “buy” rating to a “hold” rating in a report on Wednesday, September 24th.

Lithium Americas Trading Down 9.3%

LAC opened at $4.62 on Wednesday. Lithium Americas has a 12-month low of $2.31 and a 12-month high of $10.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.88 and a quick ratio of 9.88. The stock has a market capitalization of $1.14 billion, a PE ratio of -20.06 and a beta of 1.41. The firm’s fifty day moving average price is $5.37 and its 200 day moving average price is $3.72.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). As a group, research analysts expect that Lithium Americas will post -0.12 EPS for the current fiscal year.

Insider Activity at Lithium Americas

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of Lithium Americas 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 completion of the transaction, the vice president directly owned 40,005 shares of the company’s stock, valued at approximately $379,247.40. The trade was a 89.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

A number of hedge funds and other institutional investors have recently bought and sold shares of LAC. Goldman Sachs Group Inc. grew its stake in Lithium Americas by 44.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock worth $2,836,000 after buying an additional 324,518 shares during the last quarter. Teamwork Financial Advisors LLC boosted its holdings in shares of Lithium Americas by 18.1% during the second quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock valued at $2,714,000 after acquiring an additional 155,068 shares during the period. American Century Companies Inc. acquired a new position in shares of Lithium Americas during the first quarter valued at $277,000. Golden State Wealth Management LLC bought a new position in shares of Lithium Americas during the first quarter worth about $37,000. Finally, Nuveen LLC acquired a new stake in shares of Lithium Americas in the 1st quarter worth about $504,000.

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.