Lithium Americas (NYSE:LAC) Stock Rating Upgraded by TD Securities

Lithium Americas (NYSE:LAC) was upgraded by analysts at TD Securities to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts have also recently commented on the company. Canaccord Genuity Group raised 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 objective for the company in a report on Thursday, November 6th. Scotiabank increased their target price on shares of Lithium Americas from $5.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research report on Wednesday, January 28th. Finally, Cormark raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.81.

Lithium Americas Stock Performance

LAC stock opened at $4.75 on Monday. Lithium Americas has a twelve month low of $2.31 and a twelve month high of $10.52. 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 company has a market cap of $1.44 billion, a P/E ratio of -4.52 and a beta of 1.55. The business’s fifty day moving average is $5.21 and its 200-day moving average is $4.85.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Equities research analysts forecast that Lithium Americas will post -0.12 EPS for the current year.

Insider Activity at Lithium Americas

In related news, SVP Edward Grandy sold 6,183 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $4.50, for a total transaction of $27,823.50. Following the sale, the senior vice president directly owned 135,466 shares in the company, valued at $609,597. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 10,960 shares of company stock worth $49,372 in the last quarter. Company insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

A number of large investors have recently added to or reduced their stakes in LAC. Harbour Investments Inc. boosted its position in shares of Lithium Americas by 86.1% during the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock worth $27,000 after buying an additional 4,580 shares during the period. IFP Advisors Inc lifted its stake in Lithium Americas by 1,253.3% in the 4th quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after acquiring an additional 6,016 shares in the last quarter. Quarry LP acquired a new position in Lithium Americas during the 3rd quarter worth approximately $28,000. Walleye Capital LLC bought a new position in shares of Lithium Americas during the 2nd quarter worth approximately $28,000. Finally, IHT Wealth Management LLC bought a new position in shares of Lithium Americas during the 2nd quarter worth approximately $28,000.

Lithium Americas Company Profile

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.