Lithium Americas (NYSE:LAC) Price Target Lowered to $4.00 at BMO Capital Markets

Lithium Americas (NYSE:LAC) had its price target trimmed by BMO Capital Markets from $4.50 to $4.00 in a research note published on Friday, MarketBeat.com reports. The firm currently has a market perform rating on the stock.

LAC has been the topic of several other research reports. Scotia decreased their target price on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a research report on Monday, May 25th. The Goldman Sachs Group initiated coverage on Lithium Americas in a research note on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, July 24th. Wall Street Zen cut shares of Lithium Americas from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, Wedbush began coverage on shares of Lithium Americas in a report on Monday, April 20th. They set a “neutral” rating and a $8.00 target price for the company. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Stock Down 1.3%

Shares of NYSE LAC opened at $3.38 on Friday. The company’s 50-day simple moving average is $3.55 and its 200-day simple moving average is $4.35. Lithium Americas has a 52-week low of $2.66 and a 52-week high of $10.52. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -9.15 and a beta of 2.57. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.65.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Equities analysts predict that Lithium Americas will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC grew its holdings 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 buying an additional 2,183 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Lithium Americas by 16.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock valued at $96,000 after acquiring an additional 2,321 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Lithium Americas by 3.6% in the third 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 period. Pictet Asset Management Holding SA grew its holdings in shares of Lithium Americas by 6.2% in the first quarter. Pictet Asset Management Holding SA now owns 43,277 shares of the company’s stock valued at $171,000 after purchasing an additional 2,539 shares during the period. Finally, Sprott Inc. increased its position in Lithium Americas by 18.7% during the fourth quarter. Sprott Inc. now owns 16,087 shares of the company’s stock worth $70,000 after purchasing an additional 2,540 shares during the last quarter.

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.