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

Wall Street Zen upgraded shares of Lithium Americas (NYSE:LAC) from a strong sell rating to a sell rating in a research note published on Saturday.

A number of other equities analysts also recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating on shares of Lithium Americas in a research note on Monday, February 23rd. TD Securities upgraded Lithium Americas to a “hold” rating in a report on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Wednesday, January 28th. Finally, Scotiabank lowered their price target on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a report on Monday, April 6th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.56.

Lithium Americas Stock Performance

Shares of LAC stock opened at $4.38 on Friday. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -9.51 and a beta of 1.81. The stock has a 50 day simple moving average of $4.45 and a 200-day simple moving average of $5.27. Lithium Americas has a 12-month low of $2.47 and a 12-month high of $10.52. The company has a current ratio of 5.16, a quick ratio of 5.16 and a debt-to-equity ratio of 0.50.

Lithium Americas (NYSE:LAC) last issued its earnings results on Thursday, March 19th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.33). On average, equities analysts forecast that Lithium Americas will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently modified their holdings of LAC. Goldman Sachs Group Inc. grew its holdings in shares of Lithium Americas by 44.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock worth $2,836,000 after acquiring an additional 324,518 shares during the period. Creative Planning grew its holdings in shares of Lithium Americas by 18.4% in the 2nd quarter. Creative Planning now owns 48,936 shares of the company’s stock worth $131,000 after acquiring an additional 7,610 shares during the period. Invesco Ltd. grew its holdings in Lithium Americas by 38.0% during the 2nd quarter. Invesco Ltd. now owns 1,666,561 shares of the company’s stock valued at $4,466,000 after buying an additional 459,252 shares during the last quarter. Walleye Capital LLC acquired a new stake in Lithium Americas during the 2nd quarter valued at $28,000. Finally, Marshall Wace LLP acquired a new stake in Lithium Americas during the 2nd quarter valued at $105,000.

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.