Brokerages Set Lithium Americas Corp. (NYSE:LAC) Price Target at $5.63

Shares of Lithium Americas Corp. (NYSE:LAC) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.63.

A number of analysts recently weighed in on the stock. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. BMO Capital Markets raised Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Scotiabank decreased their price target on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. 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 research report on Friday, August 16th. Finally, Piper Sandler initiated coverage on Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price on the stock.

Lithium Americas Stock Up 3.2 %

LAC stock opened at $3.74 on Wednesday. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $7.71. The stock has a market capitalization of $824.24 million and a price-to-earnings ratio of -31.33. The firm’s fifty day simple moving average is $3.16 and its two-hundred day simple moving average is $3.06.

Hedge Funds Weigh In On Lithium Americas

Several institutional investors have recently made changes to their positions in LAC. Headlands Technologies LLC lifted its stake in Lithium Americas by 2,332.3% in the first quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock worth $52,000 after acquiring an additional 7,370 shares during the period. Fairscale Capital LLC bought a new stake in shares of Lithium Americas in the 2nd quarter valued at about $27,000. Quent Capital LLC lifted its position in shares of Lithium Americas by 100.0% in the 3rd 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. Evergreen Capital Management LLC bought a new position in shares of Lithium Americas during the second quarter valued at approximately $27,000. Finally, AE Wealth Management LLC purchased a new position in Lithium Americas during the second quarter valued at approximately $27,000.

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.