Wedbush Upgrades Lithium Americas (TSE:LAC) to Hold

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

Several other research firms have also weighed in on LAC. BMO Capital Markets raised Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. National Bank Financial upgraded shares of Lithium Americas from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, National Bankshares upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$5.75 to C$7.25 in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Lithium Americas has an average rating of “Moderate Buy” and an average target price of C$7.38.

Lithium Americas Price Performance

LAC opened at C$4.22 on Thursday. The company has a 50-day moving average of C$5.08 and a 200-day moving average of C$4.14. Lithium Americas has a 1-year low of C$2.87 and a 1-year high of C$10.59. The company has a market capitalization of C$919.96 million, a P/E ratio of -26.38 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.

Lithium Americas (TSE:LAC) last posted its earnings results on Tuesday, November 5th. The company reported C($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.03) by C$0.01. Equities analysts expect that Lithium Americas will post 1.3803828 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alun Robert Doyle acquired 10,000 shares of Lithium Americas stock in a transaction on Tuesday, November 19th. The stock was acquired at an average cost of C$4.47 per share, with a total value of C$44,748.00. Corporate 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.