Lithium Americas (NYSE:LAC) Earns Sector Underperform Rating from Scotiabank

Scotiabank reaffirmed their sector underperform rating on shares of Lithium Americas (NYSE:LAC) in a research report released on Monday, MarketBeat.com reports. The firm currently has a $5.00 price objective on the stock, up from their prior price objective of $2.75.

Other equities analysts also recently issued reports about the company. TD Securities downgraded Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 target price for the company. in a research report on Thursday, September 25th. Canaccord Genuity Group downgraded Lithium Americas from a “speculative buy” rating to a “sell” rating in a research report on Thursday, October 2nd. Cormark downgraded Lithium Americas from a “moderate buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lithium Americas in a research report on Saturday, September 27th. Finally, Cowen downgraded Lithium Americas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.33.

Lithium Americas Price Performance

Shares of LAC stock opened at $8.47 on Monday. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33. Lithium Americas has a twelve month low of $2.31 and a twelve month high of $9.48. The company has a market cap of $2.05 billion, a P/E ratio of -36.82 and a beta of 1.43. The business has a fifty day simple moving average of $3.62 and a 200 day simple moving average of $3.09.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). On average, sell-side analysts forecast that Lithium Americas will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at Lithium Americas

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total value of $3,355,104.72. Following the completion of the sale, the vice president owned 40,005 shares of the company’s stock, valued at approximately $379,247.40. This represents a 89.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Lithium Americas

Several large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can grew its stake in Lithium Americas by 3,173.0% in the second quarter. Bank of Montreal Can now owns 846,998 shares of the company’s stock valued at $2,266,000 after acquiring an additional 821,120 shares during the period. Invesco Ltd. grew its stake in Lithium Americas by 38.0% in the second quarter. Invesco Ltd. now owns 1,666,561 shares of the company’s stock valued at $4,466,000 after acquiring an additional 459,252 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Lithium Americas in the second quarter valued at approximately $1,057,000. Goldman Sachs Group Inc. grew its stake in Lithium Americas by 44.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after acquiring an additional 324,518 shares during the period. Finally, Decade Renewable Partners LP grew its stake in Lithium Americas by 51.7% in the first quarter. Decade Renewable Partners LP now owns 680,100 shares of the company’s stock valued at $1,843,000 after acquiring an additional 231,900 shares during the period.

Lithium Americas Company Profile

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.