Brokerages Set Lithium Americas Corp. (NYSE:LAC) PT at $5.56

Lithium Americas Corp. (NYSE:LAC) has earned an average rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $5.5625.

LAC has been the subject of a number of research analyst reports. Scotia cut their target price on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a research report on Monday, May 25th. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Scotiabank cut their target price on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research report on Monday, April 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Finally, Wedbush initiated coverage on shares of Lithium Americas in a research report on Monday, April 20th. They issued a “neutral” rating and a $8.00 target price for the company.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC lifted its position in Lithium Americas by 15.1% in the 3rd quarter. Lido Advisors LLC now owns 16,643 shares of the company’s stock worth $95,000 after buying an additional 2,183 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Lithium Americas by 16.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock worth $96,000 after buying an additional 2,321 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Lithium Americas by 3.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 67,650 shares of the company’s stock worth $394,000 after buying an additional 2,356 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Lithium Americas by 0.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company’s stock worth $1,405,000 after buying an additional 2,491 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted 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 in the last quarter.

Lithium Americas Stock Down 0.8%

Shares of NYSE:LAC opened at $4.42 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 7.36 and a current ratio of 7.36. The company has a market cap of $1.55 billion, a PE ratio of -10.77 and a beta of 2.31. Lithium Americas has a 52 week low of $2.47 and a 52 week high of $10.52. The firm has a 50 day simple moving average of $4.90 and a 200 day simple moving average of $4.89.

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