Lithium Americas (NYSE:LAC) Now Covered by Wedbush

Wedbush started coverage on shares of Lithium Americas (NYSE:LAC) in a report published on Monday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $8.00 target price on the stock.

Several other research firms also recently weighed in on LAC. Scotiabank decreased their price target on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research note on Wednesday, January 28th. TD Securities raised shares of Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Lithium Americas in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.71.

Lithium Americas Trading Up 2.8%

LAC opened at $4.97 on Monday. Lithium Americas has a 1-year low of $2.47 and a 1-year high of $10.52. The company has a current ratio of 5.16, a quick ratio of 5.16 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.73 billion, a P/E ratio of -10.81 and a beta of 1.81. The company has a fifty day moving average price of $4.44 and a two-hundred day moving average price of $5.22.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.33). Analysts predict that Lithium Americas will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LAC. Steward Partners Investment Advisory LLC grew its holdings in shares of Lithium Americas by 149.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after buying an additional 3,550 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Lithium Americas by 1,253.3% during the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after buying an additional 6,016 shares during the last quarter. Quarry LP acquired a new position in shares of Lithium Americas during the third quarter valued at about $28,000. Walleye Capital LLC acquired a new position in shares of Lithium Americas during the second quarter valued at about $28,000. Finally, IHT Wealth Management LLC acquired a new position in shares of Lithium Americas during the second quarter valued at about $28,000.

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.