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

Lithium Americas Corp. (NYSE:LAC) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $12.18.

A number of research analysts have weighed in on LAC shares. HSBC reduced their target price on Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a report on Friday, April 19th. Scotiabank cut Lithium Americas from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $15.00 to $7.00 in a research report on Monday, March 18th. JPMorgan Chase & Co. upped their price objective on Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Finally, Evercore ISI decreased their target price on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, March 15th.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently modified their holdings of LAC. General Motors Holdings LLC increased its stake in Lithium Americas by 100.0% in the 4th quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock worth $190,829,000 after buying an additional 15,002,245 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Lithium Americas by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock valued at $60,116,000 after purchasing an additional 39,419 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Lithium Americas by 24.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock valued at $15,122,000 after purchasing an additional 461,635 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Lithium Americas by 14.5% in the 1st quarter. Van ECK Associates Corp now owns 2,327,978 shares of the company’s stock valued at $15,644,000 after acquiring an additional 294,581 shares during the last quarter. Finally, Aquila Investment Management LLC lifted its holdings in shares of Lithium Americas by 89.9% in the 1st quarter. Aquila Investment Management LLC now owns 600,000 shares of the company’s stock valued at $4,032,000 after acquiring an additional 284,000 shares during the last quarter.

Lithium Americas Stock Performance

Shares of NYSE:LAC opened at $4.36 on Friday. Lithium Americas has a 1 year low of $3.81 and a 1 year high of $12.38. The stock’s 50-day moving average is $5.79 and its 200 day moving average is $5.97.

Lithium Americas (NYSE:LAC) last posted its earnings results on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). As a group, analysts forecast that Lithium Americas will post -0.12 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.