Wedbush Upgrades Lithium Americas (TSE:LAC) to “Hold”

Wedbush upgraded shares of Lithium Americas (TSE:LAC) to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Several other equities research analysts have also commented on the company. National Bankshares upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$5.75 to C$7.25 in a research note on Thursday, October 17th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. 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. Four research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas presently has a consensus rating of “Moderate Buy” and an average target price of C$7.38.

Lithium Americas Stock Performance

Shares of LAC stock opened at C$4.22 on Thursday. 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 firm has a market capitalization of C$919.96 million, a price-to-earnings ratio of -26.38 and a beta of 1.58. Lithium Americas has a one year low of C$2.87 and a one year high of C$10.59. The company has a 50 day moving average price of C$5.08 and a 200 day moving average price of C$4.14.

Lithium Americas (TSE:LAC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.03) by C$0.01. Sell-side analysts anticipate that Lithium Americas will post 1.3803828 EPS for the current year.

Insider Activity

In other news, Director Alun Robert Doyle purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were purchased at an average price of C$4.47 per share, with a total value of C$44,748.00. Insiders own 7.40% of the company’s stock.

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.