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

Lithium Americas Corp. (NYSE:LAC) has been given a consensus recommendation of “Hold” by the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $5.4444.

Several analysts recently issued reports on the stock. 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. Wedbush assumed coverage on shares of Lithium Americas in a research report on Monday, April 20th. They set a “neutral” rating and a $8.00 price objective for the company. The Goldman Sachs Group started coverage on Lithium Americas in a research note on Wednesday. They set a “neutral” rating and a $4.50 target price for the company. Wall Street Zen raised Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th.

Institutional Trading of Lithium Americas

Several large investors have recently bought and sold shares of LAC. Quarry LP bought a new position in Lithium Americas in the third quarter valued at about $28,000. Steward Partners Investment Advisory LLC raised its stake in 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. Main Street Group LTD acquired a new position in Lithium Americas during the first quarter worth about $26,000. IFP Advisors Inc lifted its holdings in shares of Lithium Americas by 1,253.3% in 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 last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Lithium Americas in the fourth quarter worth about $42,000.

Lithium Americas Price Performance

LAC stock opened at $3.77 on Monday. The company’s 50-day moving average price is $4.77 and its two-hundred day moving average price is $4.78. The firm has a market cap of $1.32 billion, a P/E ratio of -9.18 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 12 month low of $2.47 and a 12 month high of $10.52.

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.