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

Shares of Lithium Americas Corp. (NYSE:LAC) have earned an average rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $5.7143.

LAC has been the subject of several research reports. Scotiabank reduced their price target on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a report on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Wednesday, January 28th. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. TD Securities raised shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Finally, Wedbush began coverage on shares of Lithium Americas in a research note on Monday, April 20th. They set a “neutral” rating and a $8.00 price target on the stock.

Lithium Americas Stock Down 1.6%

NYSE:LAC opened at $4.65 on Wednesday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -10.10 and a beta of 1.81. Lithium Americas has a 1-year low of $2.47 and a 1-year high of $10.52. The company has a current ratio of 5.16, a quick ratio of 5.16 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average price is $4.45 and its 200 day moving average price is $5.15.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.33). On average, sell-side analysts forecast that Lithium Americas will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC lifted its position in shares of Lithium Americas by 89.2% during the 1st quarter. Apollon Wealth Management LLC now owns 27,991 shares of the company’s stock worth $111,000 after purchasing an additional 13,194 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Lithium Americas by 6.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 43,277 shares of the company’s stock worth $171,000 after buying an additional 2,539 shares during the period. Independent Wealth Network Inc. increased its position in Lithium Americas by 18.5% in the 1st quarter. Independent Wealth Network Inc. now owns 177,070 shares of the company’s stock worth $699,000 after buying an additional 27,604 shares during the period. SG Americas Securities LLC acquired a new position in shares of Lithium Americas during the first quarter worth approximately $52,000. Finally, Aurora Private Wealth Inc. bought a new stake in shares of Lithium Americas in the first quarter valued at approximately $41,000.

Lithium Americas Company Profile

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.