Lithium Americas (NYSE:LAC) Lowered to “Hold” Rating by TD Securities

TD Securities downgraded shares of Lithium Americas (NYSE:LAC) from a buy rating to a hold rating in a report released on Thursday,BayStreet.CA reports. The brokerage currently has $5.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on LAC. TD Cowen reaffirmed a “hold” rating and issued a $5.00 target price on shares of Lithium Americas in a report on Thursday. Cormark upgraded Lithium Americas to a “moderate buy” rating in a research report on Wednesday, August 20th. Jefferies Financial Group reduced their price objective on Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Cowen cut Lithium Americas from a “buy” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.72.

Lithium Americas Price Performance

LAC stock opened at $7.38 on Thursday. The company’s 50-day moving average price is $3.07 and its two-hundred day moving average price is $2.89. 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 quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33. Lithium Americas has a 12 month low of $2.31 and a 12 month high of $7.53.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). On average, analysts anticipate that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

Hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. raised its holdings in Lithium Americas by 71.2% in the 2nd quarter. Osaic Holdings Inc. now owns 86,748 shares of the company’s stock valued at $232,000 after buying an additional 36,086 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Lithium Americas by 72.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 35,998 shares of the company’s stock worth $96,000 after acquiring an additional 15,123 shares during the last quarter. IHT Wealth Management LLC acquired a new position in Lithium Americas in the 2nd quarter valued at approximately $28,000. Engineers Gate Manager LP raised its stake in shares of Lithium Americas by 165.3% during the second quarter. Engineers Gate Manager LP now owns 120,366 shares of the company’s stock valued at $322,000 after acquiring an additional 75,000 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of Lithium Americas during the second quarter valued at $1,057,000.

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.