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

Lithium Americas Corp. (NYSE:LAC) has received an average recommendation of “Hold” from the nine analysts that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $3.88.

A number of equities analysts have commented on LAC shares. National Bankshares reaffirmed an “outperform” rating on shares of Lithium Americas in a research note on Wednesday, April 2nd. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. Scotiabank lowered their target price on shares of Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating for the company in a report on Monday, March 31st. Finally, Evercore ISI initiated coverage on shares of Lithium Americas in a report on Thursday, April 17th. They issued an “outperform” rating and a $4.50 target price for the company.

Lithium Americas Stock Down 3.2%

Shares of NYSE LAC opened at $3.05 on Wednesday. The company’s 50-day simple moving average is $2.83 and its 200-day simple moving average is $3.18. The firm has a market cap of $666.99 million, a price-to-earnings ratio of -25.42 and a beta of 0.89. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $5.20.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Friday, March 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Equities research analysts anticipate that Lithium Americas will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. acquired a new position in shares of Lithium Americas during the 1st quarter worth $277,000. Nuveen LLC acquired a new stake in Lithium Americas in the 1st quarter valued at about $504,000. Koss Olinger Consulting LLC grew its stake in Lithium Americas by 67.1% in the 1st quarter. Koss Olinger Consulting LLC now owns 311,209 shares of the company’s stock valued at $843,000 after acquiring an additional 124,970 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Lithium Americas in the 1st quarter valued at about $27,000. Finally, Mackenzie Financial Corp grew its stake in Lithium Americas by 8.7% in the 1st quarter. Mackenzie Financial Corp now owns 95,359 shares of the company’s stock valued at $258,000 after acquiring an additional 7,658 shares during the last quarter.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.