Lithium Americas (NYSE:LAC) Trading Up 1.1% – Still a Buy?

Lithium Americas Corp. (NYSE:LAC)’s stock price was up 1.1% during mid-day trading on Wednesday . The company traded as high as $5.13 and last traded at $5.0450. Approximately 9,353,679 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 11,915,304 shares. The stock had previously closed at $4.99.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LAC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. TD Securities raised Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Scotia reduced their price target on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a report on Monday. Finally, Wedbush assumed coverage on Lithium Americas in a report on Monday, April 20th. They set a “neutral” rating and a $8.00 price target for the company. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.56.

Lithium Americas Trading Up 1.1%

The company has a market cap of $1.77 billion, a P/E ratio of -12.30 and a beta of 2.50. The business has a fifty day moving average price of $4.65 and a 200-day moving average price of $4.90. 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 issued its quarterly earnings data on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.07. On average, analysts forecast that Lithium Americas Corp. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Lithium Americas in the third quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC raised its position in shares of Lithium Americas by 149.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after buying an additional 3,550 shares in the last quarter. Main Street Group LTD acquired a new stake in shares of Lithium Americas in the first quarter valued at approximately $26,000. IFP Advisors Inc raised 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 valued at $28,000 after buying an additional 6,016 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Lithium Americas in the fourth quarter valued at approximately $42,000.

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.