Lithium Americas (NYSE:LAC) Given “Hold” Rating at TD Cowen

TD Cowen reaffirmed their hold rating on shares of Lithium Americas (NYSE:LAC) in a research report released on Thursday, MarketBeat.com reports. They currently have a $5.00 price target on the stock.

Several other research firms have also recently weighed in on LAC. Cormark raised Lithium Americas to a “moderate buy” rating in a report on Wednesday, August 20th. Jefferies Financial Group lowered their price target on Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.72.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $7.38 on Thursday. Lithium Americas has a twelve month low of $2.31 and a twelve month high of $7.53. The firm has a market cap of $1.78 billion, a P/E ratio of -32.09 and a beta of 0.70. The company has a 50 day moving average of $3.07 and a 200 day moving average of $2.89. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33.

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 analysts’ consensus estimates 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.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently modified their holdings of LAC. Ameriprise Financial Inc. increased its stake in shares of Lithium Americas by 4.4% in the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company’s stock worth $309,000 after purchasing an additional 4,379 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Lithium Americas by 44.1% in the 4th quarter. Toronto Dominion Bank now owns 27,679 shares of the company’s stock worth $82,000 after purchasing an additional 8,466 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Lithium Americas by 3.9% in the 4th quarter. Mackenzie Financial Corp now owns 87,701 shares of the company’s stock worth $262,000 after purchasing an additional 3,310 shares in the last quarter. Cacti Asset Management LLC purchased a new stake in shares of Lithium Americas in the 1st quarter worth $27,000. Finally, Teamwork Financial Advisors LLC increased its stake in shares of Lithium Americas by 20.1% in the 1st quarter. Teamwork Financial Advisors LLC now owns 857,754 shares of the company’s stock worth $2,325,000 after purchasing an additional 143,373 shares in the last quarter.

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.