Lithium Americas’ (LAC) Sector Underperform Rating Reaffirmed at Scotiabank

Scotiabank restated their sector underperform rating on shares of Lithium Americas (NYSE:LAC) in a research report report published on Monday, MarketBeat reports. They currently have a $5.00 price objective on the stock, up from their prior price objective of $2.75.

Other research analysts have also issued reports about the company. TD Securities lowered Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a report on Thursday, September 25th. BMO Capital Markets upped their price objective on Lithium Americas from $3.50 to $5.00 and gave the company a “market perform” rating in a report on Thursday. Jefferies Financial Group decreased their price objective on Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Canaccord Genuity Group lowered Lithium Americas from a “speculative buy” rating to a “sell” rating in a report on Thursday, October 2nd. Finally, Wedbush upped their price objective on Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.33.

Lithium Americas Stock Down 6.3%

LAC stock opened at $8.47 on Monday. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.05 billion, a PE ratio of -36.82 and a beta of 1.43. Lithium Americas has a 1-year low of $2.31 and a 1-year high of $9.48. The business’s 50 day simple moving average is $3.62 and its 200 day simple moving average is $3.09.

Lithium Americas (NYSE:LAC) last posted its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). As a group, research analysts anticipate that Lithium Americas will post -0.12 EPS for the current year.

Insider Activity

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the sale, the vice president directly owned 40,005 shares of the company’s stock, valued at approximately $379,247.40. This represents a 89.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.11% of the company’s stock.

Institutional Trading of Lithium Americas

Large investors have recently modified their holdings of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Lithium Americas during the 1st quarter worth $27,000. Ping Capital Management Inc. acquired a new stake in shares of Lithium Americas during the 1st quarter worth $27,000. Members Wealth LLC bought a new stake in shares of Lithium Americas during the 1st quarter worth $27,000. Harbour Investments Inc. lifted its position in shares of Lithium Americas by 86.1% during the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock worth $27,000 after buying an additional 4,580 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Lithium Americas during the 2nd quarter worth $28,000.

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.