Separately, Zacks Investment Research upgraded Lithium Americas from a hold rating to a buy rating and set a $3.50 target price for the company in a report on Tuesday, December 31st.
LAC opened at $3.51 on Friday. The stock has a 50-day moving average price of $3.11 and a 200-day moving average price of $3.33. Lithium Americas has a 12-month low of $2.75 and a 12-month high of $4.89. The company has a current ratio of 10.09, a quick ratio of 9.90 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $319.55 million, a P/E ratio of -13.50 and a beta of 1.34.
A number of hedge funds have recently modified their holdings of LAC. Captrust Financial Advisors bought a new stake in Lithium Americas during the second quarter valued at about $162,000. Scotia Capital Inc. raised its holdings in Lithium Americas by 101.3% during the second quarter. Scotia Capital Inc. now owns 546,365 shares of the company’s stock valued at $2,153,000 after acquiring an additional 274,960 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Lithium Americas in the second quarter worth about $50,000. Bank of America Corp DE increased its holdings in shares of Lithium Americas by 2.3% in the second quarter. Bank of America Corp DE now owns 217,600 shares of the company’s stock worth $881,000 after purchasing an additional 4,838 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Lithium Americas by 1.5% in the second quarter. Morgan Stanley now owns 1,330,954 shares of the company’s stock worth $5,390,000 after purchasing an additional 19,343 shares during the last quarter. Institutional investors own 5.37% of the company’s stock.
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 Nevada. The company also manufactures and sells organoclay products that are used in complex oil and gas drilling and other applications.
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