Lithium Americas Corp. (NYSE:LAC) Receives Consensus Rating of “Hold” from Analysts

Shares of Lithium Americas Corp. (NYSE:LAC) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $5.50.

LAC has been the topic of several recent research reports. B. Riley cut their target price on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Scotiabank lowered their target price 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. Piper Sandler assumed coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price target on the stock. Finally, BMO Capital Markets raised Lithium Americas to a “hold” rating in a research report on Wednesday.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in shares of Lithium Americas during the 4th quarter worth approximately $217,000. Mather Group LLC. purchased a new stake in Lithium Americas in the first quarter valued at $26,000. Banque Cantonale Vaudoise acquired a new position in Lithium Americas in the first quarter valued at $25,000. Wealth Enhancement Advisory Services LLC grew its holdings 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. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Lithium Americas during the first quarter worth about $101,000.

Lithium Americas Stock Performance

NYSE:LAC opened at $3.68 on Friday. Lithium Americas has a 52 week low of $2.02 and a 52 week high of $7.86. The stock’s fifty day moving average is $2.65 and its two-hundred day moving average is $3.25.

Lithium Americas (NYSE:LAC) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Equities research analysts predict that Lithium Americas will post -0.09 EPS for the current fiscal 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.