Lithium Americas Corp. (NYSE:LAC) Receives $4.80 Average PT from Analysts

Lithium Americas Corp. (NYSE:LAC) has been assigned an average rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $4.80.

A number of equities research analysts have recently issued reports on LAC shares. Wedbush assumed coverage on Lithium Americas in a research note on Thursday, December 19th. They set a “neutral” rating and a $5.00 price objective on the stock. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler decreased their price objective on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th.

Lithium Americas Stock Performance

LAC opened at $2.97 on Tuesday. The business’s 50-day simple moving average is $3.01 and its 200 day simple moving average is $3.16. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $7.71. The firm has a market capitalization of $654.33 million, a PE ratio of -24.71 and a beta of 1.77.

Hedge Funds Weigh In On Lithium Americas

Several large investors have recently modified their holdings of LAC. Sage Investment Counsel LLC acquired a new position in Lithium Americas in the 4th quarter valued at about $30,000. Allworth Financial LP boosted its holdings in shares of Lithium Americas by 99.4% during the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after acquiring an additional 4,893 shares during the period. Mariner LLC acquired a new position in shares of Lithium Americas in the fourth quarter valued at approximately $31,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Lithium Americas during the fourth quarter worth approximately $34,000. Finally, Axxcess Wealth Management LLC acquired a new stake in Lithium Americas during the 4th quarter worth approximately $37,000.

About Lithium Americas

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.