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

Shares of Lithium Americas Corp. (NYSE:LAC) have received an average rating of “Hold” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.5625.

Several brokerages recently weighed in on LAC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Scotia decreased their price target on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a research note on Monday, May 25th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Lithium Americas in a report on Monday, February 23rd. Finally, Wedbush started coverage on shares of Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price target for the company.

Lithium Americas Price Performance

LAC stock opened at $4.15 on Thursday. Lithium Americas has a 1 year low of $2.47 and a 1 year high of $10.52. The stock has a market capitalization of $1.46 billion, a PE ratio of -10.11 and a beta of 2.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 7.36. The company’s 50-day moving average is $4.85 and its 200-day moving average is $4.91.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.07. Equities research analysts expect that Lithium Americas will post -0.14 EPS for the current fiscal year.

Institutional Trading of Lithium Americas

A number of hedge funds have recently bought and sold shares of LAC. Main Street Group LTD bought a new stake in Lithium Americas in the 1st quarter worth approximately $26,000. Steward Partners Investment Advisory LLC raised its stake 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 in the last quarter. IFP Advisors Inc raised its stake 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 in the last quarter. Quarry LP purchased a new position in shares of Lithium Americas during the third quarter worth approximately $28,000. Finally, Walleye Capital LLC purchased a new position in shares of Lithium Americas during the second quarter worth 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.