Lithium Americas (NYSE:LAC) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Lithium Americas (NYSE:LAC) from a sell rating to a strong sell rating in a report published on Saturday morning.

Several other research analysts have also commented on LAC. Wedbush assumed coverage on shares of Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price target for the company. TD Securities raised shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Finally, Scotiabank cut their price objective on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Monday, April 6th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.71.

Lithium Americas Trading Down 0.4%

NYSE LAC opened at $5.71 on Friday. Lithium Americas has a one year low of $2.47 and a one year high of $10.52. The company has a 50-day simple moving average of $4.50 and a 200-day simple moving average of $5.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.16 and a current ratio of 5.16. The firm has a market capitalization of $1.98 billion, a PE ratio of -12.40 and a beta of 2.50.

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

Institutional Trading of Lithium Americas

Several hedge funds have recently bought and sold shares of the company. Traynor Capital Management Inc. lifted its position in Lithium Americas by 19.7% in the 3rd quarter. Traynor Capital Management Inc. now owns 12,449 shares of the company’s stock valued at $71,000 after purchasing an additional 2,046 shares during the last quarter. Lido Advisors LLC lifted its position in Lithium Americas by 15.1% in the 3rd quarter. Lido Advisors LLC now owns 16,643 shares of the company’s stock valued at $95,000 after purchasing an additional 2,183 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Lithium Americas by 16.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock valued at $96,000 after purchasing an additional 2,321 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Lithium Americas by 3.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 67,650 shares of the company’s stock valued at $394,000 after purchasing an additional 2,356 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Lithium Americas by 0.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company’s stock worth $1,405,000 after buying an additional 2,491 shares in the last quarter.

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.