Lithium Americas (NYSE:LAC) Price Target Lowered to $5.00 at Scotiabank

Lithium Americas (NYSE:LAC) had its price target decreased by Scotiabank from $7.00 to $5.00 in a research report released on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

A number of other equities analysts have also commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research report on Wednesday, January 28th. Jefferies Financial Group restated a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Finally, TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.56.

Lithium Americas Price Performance

LAC stock opened at $4.04 on Monday. The firm has a 50 day moving average of $4.58 and a 200-day moving average of $5.29. The company has a current ratio of 5.16, a quick ratio of 5.16 and a debt-to-equity ratio of 0.50. Lithium Americas has a 12 month low of $2.31 and a 12 month high of $10.52. The firm has a market capitalization of $1.40 billion, a P/E ratio of -8.77 and a beta of 1.81.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.33). As a group, sell-side analysts predict that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in Lithium Americas during the third quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC lifted its position in 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 purchasing an additional 3,550 shares during the last quarter. IFP Advisors Inc lifted its position in 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 purchasing an additional 6,016 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Lithium Americas during the fourth quarter valued at approximately $42,000. Finally, Masso Torrence Wealth Management Inc. bought a new stake in Lithium Americas during the third quarter valued at approximately $57,000.

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.