Lithium Americas Corp. (NYSE:LAC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Lithium Americas Corp. (NYSE:LAC) have received an average rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.61.

Several research analysts recently issued reports on LAC shares. Piper Sandler began coverage on Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Scotiabank cut their price objective on Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a report on Thursday, August 15th. National Bank Financial raised Lithium Americas to a “hold” rating in a report on Wednesday, June 5th. Finally, B. Riley cut their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th.

Lithium Americas Stock Down 2.2 %

Shares of NYSE:LAC opened at $2.66 on Tuesday. The business’s 50-day moving average is $2.48 and its 200 day moving average is $3.74. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $12.38.

Lithium Americas (NYSE:LAC) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, equities research analysts predict that Lithium Americas will post -0.09 EPS for the current year.

Institutional Trading of Lithium Americas

A number of hedge funds have recently modified their holdings of LAC. Banque Cantonale Vaudoise purchased a new stake in shares of Lithium Americas in the first quarter worth about $25,000. Mather Group LLC. purchased a new stake in shares of Lithium Americas in the first quarter worth about $26,000. Fairscale Capital LLC purchased a new position in Lithium Americas during the second quarter worth approximately $27,000. AE Wealth Management LLC purchased a new position in Lithium Americas during the second quarter worth approximately $27,000. Finally, Evergreen Capital Management LLC purchased a new position in Lithium Americas during the second quarter worth approximately $27,000.

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.