Lithium Americas (NYSE:LAC) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Lithium Americas (NYSE:LAC) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $18.00 price target on the stock.

According to Zacks, “Lithium Americas Corp. owns Lithium Nevada and RheoMinerals Inc., a supplier of rheology modifiers for oilbased drilling fluids, coatings and specialty chemicals. Lithium Americas Corp. is based in Vancouver, Canada. “

LAC has been the subject of a number of other research reports. B. Riley started coverage on shares of Lithium Americas in a research note on Wednesday, March 31st. They set a buy rating and a $25.00 target price for the company. Cowen started coverage on Lithium Americas in a research note on Monday, March 15th. They issued a market perform rating and a $17.00 price objective on the stock. Canaccord Genuity decreased their target price on Lithium Americas from $31.00 to $30.50 and set a buy rating for the company in a research note on Wednesday, March 3rd. National Bank Financial lifted their target price on Lithium Americas from $20.00 to $23.00 in a report on Tuesday, February 2nd. Finally, BMO Capital Markets increased their price target on Lithium Americas from $13.00 to $20.00 and gave the stock a market perform rating in a report on Thursday, January 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $20.03.

Shares of NYSE:LAC opened at $14.75 on Wednesday. The firm has a market cap of $1.76 billion, a P/E ratio of -39.86 and a beta of 1.60. Lithium Americas has a 12-month low of $2.74 and a 12-month high of $28.75. The business has a fifty day simple moving average of $16.95 and a 200 day simple moving average of $14.64. The company has a quick ratio of 15.34, a current ratio of 15.34 and a debt-to-equity ratio of 1.19.

Lithium Americas (NYSE:LAC) last announced its earnings results on Monday, March 1st. The company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. As a group, equities research analysts expect that Lithium Americas will post -0.41 EPS for the current year.

A number of institutional investors have recently made changes to their positions in LAC. Kestra Advisory Services LLC acquired a new position in shares of Lithium Americas during the fourth quarter worth approximately $604,000. Y Intercept Hong Kong Ltd acquired a new position in Lithium Americas during the fourth quarter worth $181,000. Joseph P. Lucia & Associates LLC acquired a new position in Lithium Americas during the fourth quarter worth $33,000. Seven Eight Capital LP bought a new position in shares of Lithium Americas in the fourth quarter valued at $2,281,000. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Lithium Americas by 16.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 7,000 shares of the company’s stock valued at $88,000 after buying an additional 1,000 shares during the last quarter. 8.12% of the stock is owned by hedge funds and other institutional investors.

About Lithium Americas

Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It primarily holds interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and owns a 100% interest in the Thacker Pass lithium project located in Humboldt County in northern Nevada.

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