Lithium Americas Corp. (NYSE:LAC) Given Consensus Rating of “Hold” by Brokerages

Shares of Lithium Americas Corp. (NYSE:LAC) have been given an average recommendation of “Hold” by the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $5.63.

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered 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. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Scotiabank dropped their price objective on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Friday, October 18th. Finally, B. Riley increased their target price on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th.

Lithium Americas Price Performance

NYSE LAC opened at $3.48 on Friday. The company has a market cap of $767.97 million and a P/E ratio of -29.00. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.71. The company has a 50-day moving average of $3.55 and a 200-day moving average of $3.01.

Institutional Trading of Lithium Americas

A number of hedge funds have recently modified their holdings of LAC. Renaissance Technologies LLC bought a new position in shares of Lithium Americas during the 2nd quarter worth about $520,000. Marshall Wace LLP bought a new position in Lithium Americas in the second quarter valued at approximately $10,252,000. Merewether Investment Management LP acquired a new stake in shares of Lithium Americas during the second quarter worth $858,000. Point72 Asset Management L.P. increased its stake in shares of 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 acquiring an additional 1,584,123 shares during the last quarter. Finally, Teamwork Financial Advisors LLC increased 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 valued at $1,077,000 after purchasing an additional 381,965 shares in the last quarter.

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.