Lithium Americas (NYSE:LAC) Downgraded to Sell Rating by Canaccord Genuity Group

Canaccord Genuity Group cut shares of Lithium Americas (NYSE:LAC) from a speculative buy rating to a sell rating in a report issued on Thursday, Marketbeat reports.

A number of other research firms also recently issued reports on LAC. BMO Capital Markets boosted their price objective on shares of Lithium Americas from $3.50 to $5.00 and gave the company a “market perform” rating in a report on Thursday. Cowen downgraded shares of Lithium Americas from a “buy” rating to a “hold” rating in a report on Wednesday, September 24th. TD Cowen reissued a “hold” rating and issued a $5.00 price objective on shares of Lithium Americas in a report on Thursday, September 25th. Wedbush boosted their price objective on shares of Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Cormark raised shares of Lithium Americas to a “moderate buy” rating in a report on Wednesday, August 20th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.08.

Lithium Americas Stock Down 2.6%

Shares of LAC opened at $6.86 on Thursday. Lithium Americas has a 52 week low of $2.31 and a 52 week high of $7.55. The firm has a market cap of $1.66 billion, a P/E ratio of -29.80 and a beta of 1.43. The firm’s 50-day simple moving average is $3.38 and its 200 day simple moving average is $3.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88.

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

Institutional Trading of Lithium Americas

Institutional investors and hedge funds have recently made changes to their positions in the company. Ping Capital Management Inc. bought a new stake in shares of Lithium Americas during the 1st quarter worth approximately $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Lithium Americas in the 1st quarter valued at approximately $27,000. Members Wealth LLC bought a new position in Lithium Americas in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. lifted its stake in Lithium Americas by 86.1% in the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock valued at $27,000 after purchasing an additional 4,580 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in Lithium Americas in the 2nd quarter valued at approximately $28,000.

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.