JPMorgan Chase & Co. Reaffirms “Underweight” Rating for Lithium Americas (NYSE:LAC)

Lithium Americas (NYSE:LAC)‘s stock had its “underweight” rating reiterated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $5.00 target price on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 26.20% from the company’s previous close.

LAC has been the subject of a number of other research reports. Wedbush increased their price objective on Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. BMO Capital Markets increased their price objective on Lithium Americas from $3.50 to $5.00 and gave the company a “market perform” rating in a research report on Thursday, October 2nd. Cormark lowered Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 2nd. Canaccord Genuity Group lowered Lithium Americas from a “speculative buy” rating to a “sell” rating in a report on Thursday, October 2nd. Finally, Cowen lowered Lithium Americas from a “buy” rating to a “hold” rating in a report on Wednesday, September 24th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $5.30.

Lithium Americas Price Performance

Shares of NYSE:LAC opened at $6.78 on Thursday. Lithium Americas has a one year low of $2.31 and a one year high of $10.52. The stock has a fifty day moving average of $4.62 and a 200-day moving average of $3.42. The company has a market capitalization of $1.67 billion, a PE ratio of -29.46 and a beta of 1.43. 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 data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). As a group, equities analysts anticipate that Lithium Americas will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at Lithium Americas

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the company’s stock in a transaction 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 directly owned 40,005 shares of the company’s stock, valued at approximately $379,247.40. This represents a 89.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

A number of hedge funds have recently modified their holdings of LAC. Golden State Wealth Management LLC acquired a new position in shares of Lithium Americas in the first quarter worth $73,000. Hartmann Taylor Wealth Management LLC acquired a new position in shares of Lithium Americas in the first quarter worth $33,000. Revisor Wealth Management LLC increased its stake in shares of Lithium Americas by 107.3% in the first quarter. Revisor Wealth Management LLC now owns 158,561 shares of the company’s stock worth $430,000 after acquiring an additional 82,081 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Lithium Americas by 94.2% in the first quarter. Alps Advisors Inc. now owns 277,782 shares of the company’s stock worth $753,000 after acquiring an additional 134,735 shares during the last quarter. Finally, Independent Wealth Network Inc. increased its stake in shares of Lithium Americas by 6.7% in the first quarter. Independent Wealth Network Inc. now owns 231,432 shares of the company’s stock worth $627,000 after acquiring an additional 14,459 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.