Lithium Americas (TSE:LAC) Rating Lowered to Hold at Piper Sandler

Piper Sandler downgraded shares of Lithium Americas (TSE:LAC) from a strong-buy rating to a hold rating in a report published on Monday, Zacks.com reports.

Several other equities analysts have also weighed in on the stock. National Bankshares set a C$7.00 price objective on shares of Lithium Americas and gave the company a sector perform rating in a research report on Thursday, June 6th. National Bank Financial raised shares of Lithium Americas to a hold rating in a research report on Wednesday, June 5th. Finally, Eight Capital upgraded shares of Lithium Americas to a strong-buy rating in a research note on Tuesday, May 14th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$9.00.

Lithium Americas Price Performance

TSE LAC opened at C$3.56 on Monday. The company has a 50 day simple moving average of C$4.02 and a 200-day simple moving average of C$5.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 8.38 and a quick ratio of 52.06. The firm has a market capitalization of C$773.13 million, a price-to-earnings ratio of -50.86 and a beta of 1.58. Lithium Americas has a 52-week low of C$3.41 and a 52-week high of C$28.88.

Lithium Americas (TSE:LAC) last posted its quarterly earnings results on Monday, May 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.04) by C($0.01). Lithium Americas had a negative return on equity of 2.11% and a negative net margin of 160.61%. Equities research analysts predict that Lithium Americas will post 1.3803828 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Samuel William Pigott bought 30,000 shares of Lithium Americas stock in a transaction dated Tuesday, June 18th. The shares were bought at an average price of C$3.60 per share, for a total transaction of C$108,000.00. In other news, Senior Officer Samuel William Pigott bought 30,000 shares of Lithium Americas stock in a transaction dated Tuesday, June 18th. The shares were bought at an average price of C$3.60 per share, for a total transaction of C$108,000.00. Also, Director John Kanellitsas bought 50,000 shares of Lithium Americas stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average price of C$3.89 per share, for a total transaction of C$194,500.00. Insiders have acquired 80,400 shares of company stock worth $303,840 over the last 90 days. Corporate insiders own 7.53% of the company’s stock.

About Lithium Americas

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.