Lithium Americas Corp. (NYSE:LAC) Receives $4.80 Consensus PT from Brokerages

Lithium Americas Corp. (NYSE:LAC) has received an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $4.80.

LAC has been the subject of several recent research reports. Wedbush initiated coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price target for the company. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Finally, Piper Sandler lowered their price target on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, January 7th.

Lithium Americas Stock Down 2.1 %

Lithium Americas stock opened at $2.97 on Tuesday. The company has a market capitalization of $654.33 million, a PE ratio of -24.71 and a beta of 1.77. The firm has a fifty day simple moving average of $3.02 and a two-hundred day simple moving average of $3.14. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $7.71.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp increased its position in shares of Lithium Americas by 3.9% during the fourth quarter. Mackenzie Financial Corp now owns 87,701 shares of the company’s stock valued at $262,000 after buying an additional 3,310 shares during the period. Toronto Dominion Bank increased its position in shares of Lithium Americas by 44.1% during the fourth quarter. Toronto Dominion Bank now owns 27,679 shares of the company’s stock valued at $82,000 after buying an additional 8,466 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Lithium Americas by 8.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,254,848 shares of the company’s stock valued at $9,732,000 after buying an additional 240,418 shares during the period. Gotham Asset Management LLC purchased a new position in shares of Lithium Americas during the fourth quarter valued at about $76,000. Finally, Fullcircle Wealth LLC purchased a new stake in Lithium Americas in the fourth quarter worth about $63,000.

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.