Lithium Americas (NYSE:LAC) Stock Price Expected to Rise, B. Riley Analyst Says

Lithium Americas (NYSE:LAC) had its target price boosted by research analysts at B. Riley from $4.50 to $5.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective would indicate a potential upside of 18.34% from the company’s current price.

LAC has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Scotiabank decreased their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. Piper Sandler started coverage on Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price on the stock. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Lithium Americas currently has an average rating of “Hold” and a consensus target price of $5.63.

Lithium Americas Price Performance

Shares of LAC opened at $4.23 on Tuesday. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $7.86. The stock’s fifty day moving average price is $3.03 and its two-hundred day moving average price is $3.07. The firm has a market cap of $932.33 million and a PE ratio of -36.75.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data 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). Sell-side analysts anticipate that Lithium Americas will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAC. Creative Financial Designs Inc. ADV raised its holdings in Lithium Americas by 39.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock valued at $35,000 after acquiring an additional 3,693 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Lithium Americas by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock worth $112,000 after purchasing an additional 4,504 shares during the period. Cowen AND Company LLC boosted its holdings in Lithium Americas by 50.0% in the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock valued at $40,000 after purchasing an additional 5,000 shares during the last quarter. Quent Capital LLC grew its stake in shares of Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after buying an additional 5,000 shares during the period. Finally, Vontobel Holding Ltd. increased its holdings in shares of Lithium Americas by 37.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company’s stock worth $59,000 after buying an additional 5,930 shares during the last quarter.

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.