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

Lithium Americas Corp. (NYSE:LAC) has earned an average rating of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. One 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 12 month price objective among analysts that have issued a report on the stock in the last year is $5.4444.

Several research analysts have recently commented on the company. Scotiabank reduced their target price on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research note on Monday, April 6th. Wall Street Zen upgraded Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Wedbush initiated coverage on Lithium Americas in a report on Monday, April 20th. They set a “neutral” rating and a $8.00 price target for the company. Scotia reduced 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 research report on Monday, May 25th. Finally, The Goldman Sachs Group started coverage on shares of Lithium Americas in a report on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 price objective on the stock.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $3.31 on Monday. The business’s 50 day moving average price is $4.64 and its two-hundred day moving average price is $4.74. The company has a market cap of $1.16 billion, a PE ratio of -8.09 and a beta of 2.47. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.65. Lithium Americas has a twelve month low of $2.47 and a twelve month high of $10.52.

Institutional Trading of Lithium Americas

Several hedge funds and other institutional investors have recently modified their holdings of LAC. Main Street Group LTD bought a new position in Lithium Americas in the 1st quarter valued at about $26,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Lithium Americas by 149.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after acquiring an additional 3,550 shares during the period. IFP Advisors Inc boosted its holdings in shares of Lithium Americas by 1,253.3% during the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock worth $28,000 after acquiring an additional 6,016 shares during the period. Quarry LP acquired a new position in shares of Lithium Americas in the third quarter valued at approximately $28,000. Finally, Walleye Capital LLC acquired a new position in shares of Lithium Americas in the second quarter valued at approximately $28,000.

About Lithium Americas

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.