Brokerages Set Lithium Americas Corp. (NYSE:LAC) Target Price at $5.71

Shares of Lithium Americas Corp. (NYSE:LAC) have been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One 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 target price among brokers that have issued ratings on the stock in the last year is $5.7143.

LAC has been the subject of a number of recent analyst reports. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. Wedbush initiated coverage on shares of Lithium Americas in a report on Monday, April 20th. They set a “neutral” rating and a $8.00 price target for the company. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Finally, Scotiabank decreased their price target on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a report on Monday, April 6th.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds have recently bought and sold shares of the company. Traynor Capital Management Inc. boosted its holdings in Lithium Americas by 19.7% during the third quarter. Traynor Capital Management Inc. now owns 12,449 shares of the company’s stock valued at $71,000 after acquiring an additional 2,046 shares during the period. Lido Advisors LLC boosted its holdings in Lithium Americas by 15.1% during the third quarter. Lido Advisors LLC now owns 16,643 shares of the company’s stock valued at $95,000 after acquiring an additional 2,183 shares during the period. Quadrant Capital Group LLC boosted its holdings in Lithium Americas by 16.1% during the third quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock valued at $96,000 after acquiring an additional 2,321 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Lithium Americas by 3.6% during the third quarter. Public Employees Retirement System of Ohio now owns 67,650 shares of the company’s stock valued at $394,000 after acquiring an additional 2,356 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Lithium Americas by 0.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company’s stock valued at $1,405,000 after acquiring an additional 2,491 shares during the period.

Lithium Americas Trading Up 4.7%

Lithium Americas stock opened at $4.99 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 company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -12.16 and a beta of 2.50. Lithium Americas has a one year low of $2.47 and a one year high of $10.52. The company’s fifty day moving average price is $4.62 and its two-hundred day moving average price is $4.90.

Lithium Americas (NYSE:LAC) last posted its earnings results on Thursday, May 14th. The company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.07. On average, analysts forecast that Lithium Americas will post -0.16 earnings per share for the current fiscal year.

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.