Lithium Americas Corp. (NYSE:LAC) Receives $5.44 Consensus Target Price from Brokerages

Shares of Lithium Americas Corp. (NYSE:LAC) have been assigned an average recommendation of “Hold” from the twelve brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $5.4444.

Several equities analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on Lithium Americas in a research report on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 target price for the company. 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. Scotia dropped their price objective on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a report on Monday, May 25th. JPMorgan Chase & Co. assumed coverage on shares of Lithium Americas in a report on Wednesday, September 9th. They issued an “overweight” rating and a $6.00 price objective for the company. Finally, BMO Capital Markets cut their target price on shares of Lithium Americas from $4.50 to $4.00 and set a “market perform” rating on the stock in a research note on Friday, August 14th.

Lithium Americas Stock Up 3.8%

NYSE:LAC opened at $2.97 on Friday. Lithium Americas has a 52 week low of $2.67 and a 52 week high of $10.52. The stock’s fifty day moving average is $3.03 and its two-hundred day moving average is $3.99. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -8.03 and a beta of 2.59. The company has a quick ratio of 5.47, a current ratio of 5.47 and a debt-to-equity ratio of 0.81.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Research analysts anticipate that Lithium Americas will post -0.07 EPS for the current year.

Institutional Trading of Lithium Americas

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Lithium Americas by 229.9% in the first quarter. Dimensional Fund Advisors LP now owns 565,135 shares of the company’s stock valued at $2,231,000 after purchasing an additional 393,842 shares during the period. Legal & General Group Plc grew its stake in Lithium Americas by 212.7% during the 4th quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after purchasing an additional 2,082,891 shares in the last quarter. Credit Industriel ET Commercial purchased a new stake in Lithium Americas during the 1st quarter worth about $908,000. Reaves W H & Co. Inc. increased its holdings in Lithium Americas by 420.0% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,040,000 shares of the company’s stock worth $4,534,000 after purchasing an additional 840,000 shares during the period. Finally, FourThought Financial Partners LLC acquired a new stake in Lithium Americas in the 4th quarter valued at about $742,000.

Lithium Americas Company Profile

Lithium Americas Corp. (NYSE: LAC) is a North American lithium development company focused on advancing domestic sources of battery-grade lithium. Its principal asset is the Thacker Pass lithium project in Humboldt County, Nevada, which is designed to produce lithium carbonate for use in electric vehicle batteries and other energy-storage applications.

Thacker Pass is being developed in phases and is intended to support the North American battery supply chain. The project uses claystone-based resources and includes plans for mining, processing and production of lithium carbonate at an integrated site.