Lithium Americas Corp. (NYSE:LAC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Lithium Americas Corp. (NYSE:LAC) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.61.

A number of analysts have issued reports on the company. Scotiabank reduced their price objective on Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 15th. B. Riley cut their target price on Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. National Bank Financial raised Lithium Americas to a “hold” rating in a research report on Wednesday, June 5th. Finally, Piper Sandler began coverage on Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock.

Lithium Americas Price Performance

NYSE LAC opened at $2.32 on Tuesday. The stock’s 50 day moving average is $2.51 and its 200 day moving average is $3.80. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $12.38.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). As a group, equities research analysts expect that Lithium Americas will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in shares of Lithium Americas in the 1st quarter worth $25,000. Mather Group LLC. purchased a new stake in shares of Lithium Americas during the 1st quarter worth $26,000. Fairscale Capital LLC purchased a new stake in shares of Lithium Americas during the 2nd quarter worth $27,000. AE Wealth Management LLC purchased a new stake in shares of Lithium Americas during the 2nd quarter worth $27,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Lithium Americas during the 2nd quarter worth $27,000.

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.