Lithium Americas (NYSE:LAC) Price Target Cut to $7.00 by Analysts at Jefferies Financial Group

Lithium Americas (NYSE:LAC) had its price objective reduced by Jefferies Financial Group from $8.00 to $7.00 in a report released on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Separately, Cormark upgraded Lithium Americas to a “moderate buy” rating in a research note on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.63.

Lithium Americas Stock Up 95.6%

LAC stock opened at $6.01 on Wednesday. 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 firm’s fifty day simple moving average is $2.99 and its 200-day simple moving average is $2.86. Lithium Americas has a 12 month low of $2.31 and a 12 month high of $6.30. The company has a market capitalization of $1.45 billion, a P/E ratio of -26.11 and a beta of 0.70.

Lithium Americas (NYSE:LAC) last posted its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). As a group, equities research analysts forecast that Lithium Americas will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

A number of large investors have recently bought and sold shares of the business. Cacti Asset Management LLC purchased a new stake in Lithium Americas in the 1st quarter worth $27,000. Members Wealth LLC acquired a new stake in shares of Lithium Americas in the first quarter valued at about $27,000. Ping Capital Management Inc. purchased a new stake in shares of Lithium Americas during the first quarter worth about $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Lithium Americas during the 1st quarter worth about $27,000. Finally, Harbour Investments Inc. raised its position in shares of Lithium Americas by 86.1% during the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock worth $27,000 after purchasing an additional 4,580 shares during the last quarter.

Lithium Americas Company Profile

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.