Lithium Americas’ (LAC) Neutral Rating Reaffirmed at Wedbush

Lithium Americas (NYSE:LAC)‘s stock had its “neutral” rating reaffirmed by investment analysts at Wedbush in a report released on Monday,Benzinga reports. They currently have a $8.00 price target on the stock. Wedbush’s price objective indicates a potential upside of 65.26% from the stock’s previous close.

LAC has been the subject of several other research reports. Scotiabank dropped their target price on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research report on Monday, April 6th. TD Securities raised shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Jefferies Financial Group reissued a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research report on Wednesday, January 28th. Finally, Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.71.

Lithium Americas Stock Performance

Shares of LAC stock opened at $4.84 on Monday. Lithium Americas has a 12 month low of $2.47 and a 12 month high of $10.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.16 and a quick ratio of 5.16. The firm has a market capitalization of $1.68 billion, a P/E ratio of -10.52 and a beta of 1.81. The company’s fifty day moving average price is $4.44 and its two-hundred day moving average price is $5.23.

Lithium Americas (NYSE:LAC) last issued 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). On average, research analysts anticipate that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors have recently modified their holdings of LAC. Van ECK Associates Corp grew its position in shares of Lithium Americas by 158.1% during the 3rd quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock valued at $82,679,000 after buying an additional 8,868,971 shares during the last quarter. Millennium Management LLC grew its position in shares of Lithium Americas by 1,188.3% during the 3rd quarter. Millennium Management LLC now owns 3,307,103 shares of the company’s stock valued at $18,885,000 after buying an additional 3,050,405 shares during the last quarter. Legal & General Group Plc grew its position in shares of Lithium Americas by 212.7% during the 4th quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock valued at $13,349,000 after buying an additional 2,082,891 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Lithium Americas during the 4th quarter valued at about $6,055,000. Finally, Old West Investment Management LLC bought a new stake in shares of Lithium Americas during the 3rd quarter valued at about $7,647,000.

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.