Lithium Americas Corp. (NYSE:LAC) Given Average Recommendation of “Hold” by Analysts

Shares of Lithium Americas Corp. (NYSE:LAC) have been given an average recommendation of “Hold” by the thirteen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $5.8125.

A number of equities research analysts have recently weighed in on LAC shares. Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. Canaccord Genuity Group upgraded shares of Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. JPMorgan Chase & Co. upgraded shares of Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Thursday, November 6th. Scotiabank lifted their price objective on shares of Lithium Americas from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a report on Wednesday, January 28th.

Lithium Americas Trading Down 8.8%

NYSE LAC opened at $4.41 on Friday. Lithium Americas has a 52 week low of $2.31 and a 52 week high of $10.52. The company has a 50 day moving average price of $5.25 and a 200 day moving average price of $4.80. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1.34 billion, a PE ratio of -4.20 and a beta of 1.55.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. As a group, sell-side analysts forecast that Lithium Americas will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Edward Grandy sold 6,183 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $4.50, for a total value of $27,823.50. Following the transaction, the senior vice president directly owned 135,466 shares of the company’s stock, valued at approximately $609,597. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 10,960 shares of company stock worth $49,372. 1.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lithium Americas

Large investors have recently bought and sold shares of the company. Teamwork Financial Advisors LLC lifted its stake in Lithium Americas by 26.6% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company’s stock valued at $7,319,000 after acquiring an additional 268,918 shares during the period. Bank of Montreal Can increased its stake in shares of Lithium Americas by 3,173.0% in the second quarter. Bank of Montreal Can now owns 846,998 shares of the company’s stock worth $2,266,000 after acquiring an additional 821,120 shares during the period. Axxcess Wealth Management LLC raised its holdings in shares of Lithium Americas by 33.9% during the second quarter. Axxcess Wealth Management LLC now owns 16,582 shares of the company’s stock worth $44,000 after purchasing an additional 4,200 shares during the last quarter. TD Asset Management Inc lifted its position in Lithium Americas by 14.2% during the second quarter. TD Asset Management Inc now owns 241,323 shares of the company’s stock valued at $644,000 after purchasing an additional 29,981 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in Lithium Americas by 174.1% in the second quarter. Golden State Wealth Management LLC now owns 37,000 shares of the company’s stock valued at $99,000 after purchasing an additional 23,500 shares during the last quarter.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.