B. Riley Forecasts Strong Price Appreciation for Lithium Americas (NYSE:LAC) Stock

Lithium Americas (NYSE:LAC) had its price objective lifted by equities researchers at B. Riley from $4.50 to $5.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price target would indicate a potential upside of 18.34% from the company’s previous close.

Other analysts also recently issued reports about the company. Scotiabank reduced their price objective on 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 initiated coverage on shares of Lithium Americas in a report on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price for the company. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.63.

Lithium Americas Price Performance

LAC stock opened at $4.23 on Tuesday. The business’s 50-day moving average is $3.03 and its two-hundred day moving average is $3.07. The firm has a market capitalization of $932.33 million and a P/E ratio of -36.75. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $7.86.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results 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). On average, analysts expect that Lithium Americas will post -0.1 EPS for the current year.

Institutional Trading of Lithium Americas

Several hedge funds have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC increased its stake in Lithium Americas by 3.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 278,622 shares of the company’s stock worth $752,000 after purchasing an additional 10,000 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its position in Lithium Americas by 39.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock worth $35,000 after purchasing an additional 3,693 shares during the period. Hedges Asset Management LLC raised its stake in Lithium Americas by 100.0% during the 3rd quarter. Hedges Asset Management LLC now owns 50,000 shares of the company’s stock valued at $135,000 after purchasing an additional 25,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Lithium Americas by 41.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock valued at $1,008,000 after acquiring an additional 108,993 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in Lithium Americas in the third quarter worth about $90,000.

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.