Lithium Americas Corp. (NYSE:LAC) Receives $4.84 Consensus Price Target from Brokerages

Shares of Lithium Americas Corp. (NYSE:LAC) have been given an average recommendation of “Hold” by the ten research firms that are currently covering the stock, MarketBeat.com 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 objective among analysts that have covered the stock in the last year is $4.84.

LAC has been the subject of several research reports. Cormark upgraded Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. National Bankshares restated an “outperform” rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Scotiabank lowered their target price on shares of Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating on the stock in a research report on Monday, March 31st. Piper Sandler lowered their price objective on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Wedbush began coverage on Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 target price for the company.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors have recently added to or reduced their stakes in LAC. Quinn Opportunity Partners LLC lifted its position in shares of Lithium Americas by 1,132.5% in the 4th quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company’s stock worth $2,411,000 after acquiring an additional 745,777 shares during the period. Decade Renewable Partners LP bought a new stake in Lithium Americas in the 4th quarter valued at $1,331,000. HITE Hedge Asset Management LLC raised its stake in shares of Lithium Americas by 150.9% in the 4th quarter. HITE Hedge Asset Management LLC now owns 731,473 shares of the company’s stock valued at $2,172,000 after buying an additional 439,974 shares in the last quarter. Teamwork Financial Advisors LLC lifted its holdings in shares of Lithium Americas by 79.2% during the 4th quarter. Teamwork Financial Advisors LLC now owns 714,381 shares of the company’s stock worth $2,122,000 after acquiring an additional 315,621 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Lithium Americas by 8.0% in 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 acquiring an additional 240,418 shares during the period.

Lithium Americas Stock Performance

NYSE LAC opened at $2.72 on Friday. The firm’s 50 day moving average price is $2.84 and its two-hundred day moving average price is $3.19. The stock has a market cap of $600.26 million, a price-to-earnings ratio of -22.67 and a beta of 1.01. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $7.40.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Friday, March 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). On average, research analysts forecast that Lithium Americas will post -0.12 EPS for the current fiscal year.

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.