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

Lithium Americas Corp. (NYSE:LAC) has earned an average recommendation of “Hold” from the ten research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.7143.

Several brokerages have recently issued reports on LAC. Scotiabank reduced their price target on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Wedbush began coverage on shares of Lithium Americas in a research report on Monday, April 20th. They set a “neutral” rating and a $8.00 price target on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Finally, TD Securities raised shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th.

Lithium Americas Trading Down 1.9%

Shares of LAC stock opened at $4.90 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 5.16. The firm has a market cap of $1.72 billion, a PE ratio of -11.94 and a beta of 2.50. The company has a 50-day moving average of $4.63 and a two-hundred day moving average of $4.90. Lithium Americas has a 1-year low of $2.47 and a 1-year high of $10.52.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.07. On average, analysts predict that Lithium Americas will post -0.15 EPS for the current year.

Institutional Trading of Lithium Americas

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp raised its holdings in Lithium Americas by 158.1% in the third quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock valued at $82,679,000 after acquiring an additional 8,868,971 shares in the last quarter. Millennium Management LLC raised its holdings in Lithium Americas by 1,188.3% in the third quarter. Millennium Management LLC now owns 3,307,103 shares of the company’s stock valued at $18,885,000 after acquiring an additional 3,050,405 shares in the last quarter. Legal & General Group Plc raised its holdings in Lithium Americas by 212.7% in the fourth quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock valued at $13,349,000 after acquiring an additional 2,082,891 shares in the last quarter. Trexquant Investment LP acquired a new stake in Lithium Americas in the fourth quarter valued at approximately $6,055,000. Finally, Old West Investment Management LLC acquired a new stake in Lithium Americas in the third quarter valued at approximately $7,647,000.

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.