Lithium Americas Corp. (NYSE:LAC) Receives $5.56 Average Price Target from Analysts

Lithium Americas Corp. (NYSE:LAC) has been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $5.51.

Several brokerages have recently issued reports on LAC. Wedbush assumed coverage on Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 target price on the stock. Scotiabank reduced their price objective on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Friday, October 18th. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Piper Sandler cut their target price on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a report on Tuesday. Finally, BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently added to or reduced their stakes in LAC. Creative Financial Designs Inc. ADV lifted its stake in Lithium Americas by 39.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock worth $35,000 after purchasing an additional 3,693 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Lithium Americas by 13.2% during the 3rd quarter. National Bank of Canada FI now owns 37,129 shares of the company’s stock worth $100,000 after acquiring an additional 4,340 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Lithium Americas by 12.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock valued at $112,000 after acquiring an additional 4,504 shares during the period. Cowen AND Company LLC grew its position in Lithium Americas by 50.0% in the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock valued at $40,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Quent Capital LLC increased its stake in Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after purchasing an additional 5,000 shares during the period.

Lithium Americas Stock Performance

Shares of NYSE LAC opened at $3.29 on Thursday. The company has a market cap of $726.05 million, a P/E ratio of -27.42 and a beta of 1.67. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $7.71. The firm’s fifty day moving average is $3.59 and its two-hundred day moving average is $3.00.

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.