Lithium Americas Corp. (NYSE:LAC) Stock Has Consensus Target Price of $5.25

Lithium Americas Corp. (NYSE:LAC) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.25.

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets set a $3.50 price objective on shares of Lithium Americas in a research report on Tuesday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, July 24th. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Canaccord Genuity Group raised shares of Lithium Americas from a “hold” rating to a “speculative buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. started coverage on shares of Lithium Americas in a research note on Wednesday, September 9th. They issued an “overweight” rating and a $6.00 target price for the company.

Institutional Investors Weigh In On Lithium Americas

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Lithium Americas by 229.9% during 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 in the last quarter. Credit Industriel ET Commercial bought a new stake in Lithium Americas during the first quarter worth approximately $908,000. Engineers Gate Manager LP bought a new stake in Lithium Americas during the second quarter worth approximately $838,000. Tidal Investments LLC lifted its position in Lithium Americas by 5.2% in the second quarter. Tidal Investments LLC now owns 75,367 shares of the company’s stock worth $290,000 after purchasing an additional 3,728 shares during the period. Finally, Keebeck Wealth Management acquired a new stake in Lithium Americas in the second quarter worth approximately $38,000.

Lithium Americas Price Performance

LAC stock opened at $2.19 on Wednesday. The company has a 50 day moving average price of $2.85 and a two-hundred day moving average price of $3.75. 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 has a one year low of $2.04 and a one year high of $7.25.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. As a group, sell-side analysts forecast that Lithium Americas will post -0.07 EPS for the current fiscal year.

Lithium Americas Company Profile

Lithium Americas Corp. is a lithium development company focused on advancing domestic battery-materials production in North America. Its principal asset is the Thacker Pass lithium project in Humboldt County, Nevada, one of the largest known lithium deposits in the United States. The project is designed to produce battery-grade lithium carbonate for use in electric vehicle batteries and other energy-storage applications.

Thacker Pass is being developed in phases and is expected to use a processing method intended to recover lithium from sedimentary claystone.