Lithium Americas Corp. (NYSE:LAC) Given Average Rating of “Hold” by Brokerages

Lithium Americas Corp. (NYSE:LAC) has earned an average rating of “Hold” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $5.3333.

Several research analysts have commented on the company. BMO Capital Markets cut their target price on Lithium Americas from $4.50 to $4.00 and set a “market perform” rating for the company in a research note on Friday, August 14th. Scotia decreased their price target on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a research report on Monday, May 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, July 24th. The Goldman Sachs Group started coverage on shares of Lithium Americas in a research report on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 price objective for the company. Finally, Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th.

Lithium Americas Price Performance

Lithium Americas stock opened at $3.08 on Tuesday. Lithium Americas has a one year low of $2.67 and a one year high of $10.52. The business has a fifty day moving average price of $3.28 and a 200-day moving average price of $4.20. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.47 and a quick ratio of 5.47. The firm has a market capitalization of $1.12 billion, a P/E ratio of -8.32 and a beta of 2.57.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. As a group, equities research analysts forecast that Lithium Americas will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of Lithium Americas by 20.8% in the fourth quarter. Van ECK Associates Corp now owns 17,495,908 shares of the company’s stock worth $76,282,000 after purchasing an additional 3,016,293 shares during the period. Millennium Management LLC boosted its stake in Lithium Americas by 35.8% during the fourth quarter. Millennium Management LLC now owns 4,489,568 shares of the company’s stock valued at $19,575,000 after buying an additional 1,182,465 shares during the period. Legal & General Group Plc grew its position in Lithium Americas by 212.7% during the fourth quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after buying an additional 2,082,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Lithium Americas by 1.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock worth $7,350,000 after buying an additional 45,941 shares in the last quarter. Finally, Invesco Ltd. grew its position in Lithium Americas by 44.3% during the third quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock worth $13,736,000 after buying an additional 739,007 shares in the last quarter.

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.