Lithium Americas Corp. (NYSE:LAC) Receives Consensus Rating of “Hold” from Analysts

Lithium Americas Corp. (NYSE:LAC) has earned an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.63.

Several equities research analysts have recently issued reports on the company. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. Piper Sandler began coverage on shares of Lithium Americas in a report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective for the company. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, B. Riley upped their price target on Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday.

Institutional Investors Weigh In On Lithium Americas

Several large investors have recently made changes to their positions in LAC. Marshall Wace LLP bought a new position in shares of Lithium Americas in the second quarter valued at approximately $10,252,000. Van ECK Associates Corp raised its position in Lithium Americas by 69.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock valued at $10,591,000 after purchasing an additional 1,625,149 shares during the last quarter. Point72 Asset Management L.P. raised its position in Lithium Americas by 580.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after purchasing an additional 1,584,123 shares during the last quarter. Teamwork Financial Advisors LLC boosted its stake in Lithium Americas by 2,274.3% in the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock worth $1,077,000 after purchasing an additional 381,965 shares in the last quarter. Finally, Merewether Investment Management LP bought a new stake in shares of Lithium Americas during the second quarter worth $858,000.

Lithium Americas Trading Down 3.1 %

Shares of NYSE LAC opened at $4.10 on Wednesday. The firm has a market capitalization of $904.75 million and a PE ratio of -34.17. Lithium Americas has a one year low of $2.02 and a one year high of $7.86. The business has a 50-day moving average price of $2.99 and a two-hundred day moving average price of $3.08.

Lithium Americas (NYSE:LAC) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Research analysts anticipate that Lithium Americas will post -0.09 EPS for the current year.

Lithium Americas Company Profile

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.