Analysts Set Lithium Americas Corp. (NYSE:LAC) Price Target at $5.81

Shares of Lithium Americas Corp. (NYSE:LAC) have been given an average recommendation of “Hold” by the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $5.8125.

Several analysts recently commented on the company. Scotiabank lifted their price objective on Lithium Americas from $5.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, January 12th. TD Securities raised Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research note on Wednesday, January 28th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LAC. Steward Partners Investment Advisory LLC grew its position in shares of Lithium Americas by 149.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after acquiring an additional 3,550 shares during the period. IFP Advisors Inc lifted its position in Lithium Americas by 1,253.3% during the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after purchasing an additional 6,016 shares in the last quarter. Quarry LP bought a new stake in Lithium Americas during the third quarter valued at about $28,000. Walleye Capital LLC bought a new stake in Lithium Americas during the second quarter valued at about $28,000. Finally, IHT Wealth Management LLC purchased a new stake in Lithium Americas in the second quarter worth about $28,000.

Lithium Americas Stock Down 0.1%

LAC opened at $4.04 on Friday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -8.77 and a beta of 1.81. The firm has a 50 day moving average price of $4.62 and a 200-day moving average price of $5.25. Lithium Americas has a twelve month low of $2.31 and a twelve month high of $10.52. The company has a quick ratio of 5.16, a current ratio of 5.16 and a debt-to-equity ratio of 0.50.

Lithium Americas (NYSE:LAC) last posted its earnings results on Thursday, March 19th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.33). Equities research analysts forecast that Lithium Americas will post -0.12 earnings per share for the current year.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver?based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high?purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari?Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.