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

Shares of Lithium Americas Corp. (NYSE:LAC) have earned an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $5.63.

A number of research firms have issued reports on LAC. B. Riley increased their target price on Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Tuesday. Scotiabank dropped their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday, October 18th. Piper Sandler assumed coverage on Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd.

Lithium Americas Stock Down 3.1 %

Shares of LAC opened at $4.10 on Wednesday. The stock’s fifty day simple moving average is $2.99 and its 200-day simple moving average is $3.08. The firm has a market capitalization of $904.75 million and a PE ratio of -34.17. Lithium Americas has a 12-month low of $2.02 and a 12-month high of $7.86.

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

Institutional Trading of Lithium Americas

A number of institutional investors have recently bought and sold shares of LAC. Van ECK Associates Corp increased its stake in Lithium Americas by 69.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock worth $10,591,000 after acquiring an additional 1,625,149 shares during the period. Marshall Wace LLP acquired a new stake in shares of Lithium Americas during the 2nd quarter worth $10,252,000. Point72 Asset Management L.P. increased its position in shares of Lithium Americas by 580.1% in the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after purchasing an additional 1,584,123 shares during the period. Teamwork Financial Advisors LLC raised 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. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Lithium Americas by 41.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock worth $1,008,000 after purchasing an additional 108,993 shares during the period.

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.