Lithium Americas (NYSE:LAC) Upgraded to Hold at The Goldman Sachs Group

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

LAC has been the subject of several other research reports. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Scotiabank cut 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research note on Monday, April 27th. Wedbush began coverage on shares of Lithium Americas in a research report on Monday, April 20th. They issued a “neutral” rating and a $8.00 target price for the company. Finally, Scotia dropped their price target on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a research note on Monday, May 25th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.44.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $3.77 on Wednesday. Lithium Americas has a 1-year low of $2.47 and a 1-year high of $10.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 7.36. The business’s fifty day moving average price is $4.80 and its two-hundred day moving average price is $4.79. The firm has a market capitalization of $1.32 billion, a PE ratio of -9.18 and a beta of 2.47.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in shares of Lithium Americas by 158.1% in the third quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock valued at $82,679,000 after buying an additional 8,868,971 shares during the period. Kailix Advisors LLC bought a new position in Lithium Americas during the fourth quarter valued at about $5,123,000. Revisor Wealth Management LLC grew its holdings in Lithium Americas by 123.7% during the fourth quarter. Revisor Wealth Management LLC now owns 366,418 shares of the company’s stock worth $1,598,000 after acquiring an additional 202,594 shares during the period. Legal & General Group Plc grew its holdings in Lithium Americas by 212.7% during the fourth 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lithium Americas by 510.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 142,234 shares of the company’s stock worth $619,000 after acquiring an additional 118,922 shares in the last quarter.

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.