Lithium Americas (NYSE:LAC) Upgraded at Canaccord Genuity Group

Lithium Americas (NYSE:LAC) was upgraded by equities research analysts at Canaccord Genuity Group from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports.

A number of other brokerages also recently issued reports on LAC. Cormark downgraded Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 2nd. BMO Capital Markets lifted their price target on shares of Lithium Americas from $3.50 to $5.00 and gave the stock a “market perform” rating in a research note on Thursday, October 2nd. Wedbush boosted their price target on shares of Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Thursday, November 6th. Finally, Scotiabank upgraded Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Trading Up 4.6%

Shares of LAC opened at $5.22 on Wednesday. Lithium Americas has a 12-month low of $2.31 and a 12-month high of $10.52. The firm has a market capitalization of $1.29 billion, a P/E ratio of -4.98 and a beta of 1.41. The firm has a 50-day moving average price of $5.75 and a 200 day moving average price of $3.86. The company has a current ratio of 3.77, a quick ratio of 9.88 and a debt-to-equity ratio of 0.84.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Sell-side analysts forecast that Lithium Americas will post -0.12 EPS for the current year.

Insider Activity

In related news, SVP Edward Grandy sold 6,183 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $4.50, for a total transaction of $27,823.50. Following the sale, the senior vice president directly owned 135,466 shares in the company, valued at approximately $609,597. This trade represents a 4.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Alexi Illya Zawadzki sold 353,914 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total value of $3,355,104.72. Following the completion of the transaction, the vice president directly owned 40,005 shares in the company, valued at approximately $379,247.40. The trade was a 89.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 364,860 shares of company stock valued at $3,404,362 in the last 90 days. 1.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lithium Americas

Institutional investors have recently made changes to their positions in the stock. Second Line Capital LLC bought a new position in shares of Lithium Americas in the third quarter worth $116,000. PharVision Advisers LLC acquired a new stake in Lithium Americas during the third quarter valued at approximately $169,000. XTX Topco Ltd purchased a new position in shares of Lithium Americas in the third quarter worth approximately $603,000. Victory Financial Group LLC purchased a new stake in shares of Lithium Americas in the third quarter worth approximately $169,000. Finally, Scientech Research LLC acquired a new stake in shares of Lithium Americas during the third quarter worth approximately $380,000.

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.