Brokerages Set Lithium Americas Corp. (NYSE:LAC) Target Price at $6.61

Lithium Americas Corp. (NYSE:LAC) has received a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $6.61.

Several research firms have recently issued reports on LAC. Scotiabank cut their target price on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 15th. Eight Capital cut their price objective on Lithium Americas from $13.50 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft decreased their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. National Bank Financial upgraded Lithium Americas to a “hold” rating in a research note on Wednesday, June 5th. Finally, B. Riley reduced their price target on Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 16th.

Hedge Funds Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in Lithium Americas during the 4th quarter valued at $217,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Lithium Americas by 8.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock worth $1,627,000 after purchasing an additional 18,388 shares during the last quarter. General Motors Holdings LLC grew its stake in Lithium Americas by 100.0% in the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock worth $190,829,000 after purchasing an additional 15,002,245 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Lithium Americas in the first quarter valued at about $202,000. Finally, Van ECK Associates Corp raised its stake in Lithium Americas by 22.2% during the fourth quarter. Van ECK Associates Corp now owns 2,033,397 shares of the company’s stock valued at $13,015,000 after buying an additional 369,879 shares in the last quarter.

Lithium Americas Stock Performance

Shares of NYSE:LAC opened at $2.32 on Friday. The business has a 50-day moving average of $2.59 and a two-hundred day moving average of $4.02. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $12.38.

Lithium Americas (NYSE:LAC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). As a group, equities research analysts anticipate that Lithium Americas will post -0.11 EPS for the current year.

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.