Scotia Issues Pessimistic Forecast for Lithium Americas (NYSE:LAC) Stock Price

by · The Cerbat Gem

Lithium Americas (NYSE:LAC – Get Free Report) had its price target dropped by stock analysts at Scotia from $5.00 to $4.50 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotia’s price target suggests a potential downside of 8.07% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Wall Street Zen raised Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Jefferies Financial Group reiterated a “buy” rating on shares of Lithium Americas in a report on Monday, February 23rd. Scotiabank decreased their price objective on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a report on Monday, April 6th. Wedbush initiated coverage on Lithium Americas in a report on Monday, April 20th. They set a “neutral” rating and a $8.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.56.

Get Our Latest Stock Analysis on LAC

Lithium Americas Trading Up 0.5%

NYSE:LAC traded up $0.03 during midday trading on Monday, hitting $4.90. The stock had a trading volume of 12,184,973 shares, compared to its average volume of 13,011,765. Lithium Americas has a one year low of $2.47 and a one year high of $10.52. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -11.94 and a beta of 2.50. The stock has a 50-day moving average of $4.63 and a 200 day moving average of $4.90. The company has a quick ratio of 5.16, a current ratio of 7.36 and a debt-to-equity ratio of 0.65.

Lithium Americas (NYSE:LAC – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.07. As a group, sell-side analysts forecast that Lithium Americas will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently bought and sold shares of LAC. Main Street Group LTD acquired a new stake in Lithium Americas during the 1st quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Lithium Americas by 149.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after purchasing an additional 3,550 shares during the last quarter. IFP Advisors Inc lifted its position in Lithium Americas by 1,253.3% during the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after purchasing an additional 6,016 shares during the period. Quarry LP purchased a new stake in Lithium Americas in the third quarter valued at $28,000. Finally, Walleye Capital LLC acquired a new stake in Lithium Americas during the 2nd quarter worth about $28,000.

Lithium Americas Company Profile

(Get Free Report)

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.

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