Lithium Americas (TSE:LAC) Raised to Hold at BMO Capital Markets

Lithium Americas (TSE:LAC) was upgraded by research analysts at BMO Capital Markets to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

Several other equities analysts have also recently weighed in on LAC. Piper Sandler cut Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. National Bankshares raised Lithium Americas from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$5.75 to C$7.25 in a research report on Thursday, October 17th. Finally, National Bank Financial raised shares of Lithium Americas from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$9.08.

Lithium Americas Stock Up 7.2 %

Shares of LAC stock opened at C$4.74 on Wednesday. The company has a market capitalization of C$1.03 billion, a price-to-earnings ratio of -29.63 and a beta of 1.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 52.06 and a current ratio of 20.15. The stock’s 50 day simple moving average is C$3.59 and its 200 day simple moving average is C$4.56. Lithium Americas has a twelve month low of C$2.87 and a twelve month high of C$10.75.

Lithium Americas (TSE:LAC) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.03) by C($0.04). As a group, research analysts predict that Lithium Americas will post 1.3803828 EPS for the current year.

Insider Activity

In other Lithium Americas news, Senior Officer Oleksandr Shulga sold 24,862 shares of Lithium Americas stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$3.40, for a total transaction of C$84,530.80. 7.40% of the stock is currently owned by company insiders.

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.