Brokerages Set Lithium Americas Corp. (NYSE:LAC) Price Target at $4.75

Shares of Lithium Americas Corp. (NYSE:LAC) have earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $4.75.

A number of brokerages have weighed in on LAC. Evercore ISI began coverage on Lithium Americas in a research report on Thursday, April 17th. They issued an “outperform” rating and a $4.50 price target on the stock. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. Scotiabank reduced their target price on Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating on the stock in a report on Monday, March 31st. Finally, National Bankshares reiterated an “outperform” rating on shares of Lithium Americas in a research report on Wednesday, April 2nd.

Lithium Americas Stock Up 0.6 %

LAC stock opened at $3.16 on Wednesday. Lithium Americas has a 12-month low of $2.02 and a 12-month high of $5.20. The company has a market cap of $691.05 million, a price-to-earnings ratio of -26.33 and a beta of 0.89. The company has a 50 day moving average of $2.83 and a two-hundred day moving average of $3.19.

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

Hedge Funds Weigh In On Lithium Americas

Several large investors have recently made changes to their positions in the company. Perigon Wealth Management LLC lifted its position in Lithium Americas by 46.2% during the 4th quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock valued at $47,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC lifted its holdings in Lithium Americas by 21.6% in the third quarter. Geode Capital Management LLC now owns 103,275 shares of the company’s stock valued at $279,000 after buying an additional 18,321 shares during the period. Jones Financial Companies Lllp boosted its stake in Lithium Americas by 29.5% in the fourth quarter. Jones Financial Companies Lllp now owns 87,350 shares of the company’s stock valued at $259,000 after acquiring an additional 19,908 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Lithium Americas during the 4th quarter worth $130,000. Finally, HB Wealth Management LLC bought a new stake in shares of Lithium Americas during the 4th quarter valued at $55,000.

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.