Lithium Americas (NYSE:LAC) Stock Rating Lowered by Cormark

Lithium Americas (NYSE:LAC) was downgraded by equities researchers at Cormark from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. TD Securities downgraded Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a report on Thursday, September 25th. Cowen lowered Lithium Americas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Canaccord Genuity Group downgraded Lithium Americas from a “speculative buy” rating to a “sell” rating in a research note on Thursday. Jefferies Financial Group cut their target price on shares of Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Finally, TD Cowen reissued a “hold” rating and set a $5.00 target price on shares of Lithium Americas in a report on Thursday, September 25th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.08.

Lithium Americas Trading Up 31.3%

LAC opened at $9.01 on Thursday. The company has a market cap of $2.18 billion, a P/E ratio of -39.15 and a beta of 1.43. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $3.50 and its 200-day moving average is $3.05. Lithium Americas has a 1-year low of $2.31 and a 1-year high of $9.33.

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

Insider Transactions at Lithium Americas

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total value of $3,355,104.72. Following the transaction, the vice president owned 40,005 shares in the company, valued at approximately $379,247.40. The trade was a 89.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently bought and sold shares of LAC. Axxcess Wealth Management LLC boosted its position in Lithium Americas by 33.9% during the second quarter. Axxcess Wealth Management LLC now owns 16,582 shares of the company’s stock valued at $44,000 after acquiring an additional 4,200 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Lithium Americas by 4.4% during the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company’s stock valued at $309,000 after purchasing an additional 4,379 shares in the last quarter. HITE Hedge Asset Management LLC grew its stake in Lithium Americas by 0.6% during the first quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company’s stock worth $1,994,000 after purchasing an additional 4,445 shares during the period. Harbour Investments Inc. increased its holdings in Lithium Americas by 86.1% in the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock worth $27,000 after purchasing an additional 4,580 shares in the last quarter. Finally, Creative Planning increased its holdings in Lithium Americas by 18.4% in the second quarter. Creative Planning now owns 48,936 shares of the company’s stock worth $131,000 after purchasing an additional 7,610 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.