Lithium Americas (NYSE:LAC) Raised to “Hold” at The Goldman Sachs Group

Lithium Americas (NYSE:LAC) was upgraded by The Goldman Sachs Group to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently issued reports on LAC. Wedbush assumed coverage on Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 target price for the company. Scotia dropped their price objective on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a report on Monday, May 25th. Scotiabank dropped 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. Wall Street Zen raised Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.44.

Lithium Americas Trading Down 1.7%

Shares of LAC opened at $3.77 on Wednesday. The stock has a market cap of $1.32 billion, a PE ratio of -9.18 and a beta of 2.47. Lithium Americas has a 52-week low of $2.47 and a 52-week high of $10.52. The firm’s fifty day moving average is $4.80 and its two-hundred day moving average is $4.79. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.65.

Institutional Investors Weigh In On Lithium Americas

Large investors have recently added to or reduced their stakes in the business. Main Street Group LTD acquired a new stake in shares of Lithium Americas in the first quarter valued at approximately $26,000. 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 worth $26,000 after buying an additional 3,550 shares during the period. IFP Advisors Inc boosted its position in shares of Lithium Americas by 1,253.3% in the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock worth $28,000 after acquiring an additional 6,016 shares during the last quarter. Quarry LP purchased a new stake in shares of Lithium Americas during the 3rd quarter valued at $28,000. Finally, Walleye Capital LLC acquired a new stake in Lithium Americas during the second quarter worth 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.