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

Lithium Americas (NYSE:LAC) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

Other equities research analysts also recently issued reports about the stock. Scotiabank lowered their target price on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research note on Monday, April 6th. Wedbush assumed coverage on Lithium Americas in a research report on Monday, April 20th. They set a “neutral” rating and a $8.00 price target on the stock. Scotia decreased their price objective on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a report on Monday, May 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, July 24th. Finally, The Goldman Sachs Group assumed coverage on Lithium Americas in a research note on Wednesday, July 1st. They set a “neutral” rating and a $4.50 target price on the stock. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.44.

Lithium Americas Stock Down 0.2%

Shares of Lithium Americas stock opened at $2.87 on Friday. The firm’s 50 day moving average price is $3.94 and its 200-day moving average price is $4.53. 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 has a 52-week low of $2.47 and a 52-week high of $10.52. The company has a market cap of $1.01 billion, a P/E ratio of -6.99 and a beta of 2.58.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently made changes to their positions in LAC. Van ECK Associates Corp increased its position in shares of Lithium Americas by 20.8% in the 4th quarter. Van ECK Associates Corp now owns 17,495,908 shares of the company’s stock valued at $76,282,000 after acquiring an additional 3,016,293 shares during the period. Millennium Management LLC raised its stake in Lithium Americas by 35.8% in the 4th quarter. Millennium Management LLC now owns 4,489,568 shares of the company’s stock worth $19,575,000 after acquiring an additional 1,182,465 shares during the last quarter. Legal & General Group Plc lifted its position in Lithium Americas by 212.7% during the 4th quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after acquiring an additional 2,082,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Lithium Americas by 1.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock worth $7,350,000 after acquiring an additional 45,941 shares during the period. Finally, Invesco Ltd. grew its stake in Lithium Americas by 44.3% during the 3rd quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock valued at $13,736,000 after purchasing an additional 739,007 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.