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

Shares of Lithium Americas Corp. (NYSE:LAC) have been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.8125.

A number of brokerages recently issued reports on LAC. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. TD Securities raised shares of Lithium Americas to a “hold” rating in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a report on Wednesday, January 28th. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Scotiabank lifted their target price on Lithium Americas from $5.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, January 12th.

Hedge Funds Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently modified their holdings of LAC. Van ECK Associates Corp raised its holdings in Lithium Americas by 158.1% during the 3rd quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock worth $82,679,000 after buying an additional 8,868,971 shares during the period. Millennium Management LLC increased its position in shares of Lithium Americas by 1,188.3% during the third quarter. Millennium Management LLC now owns 3,307,103 shares of the company’s stock worth $18,885,000 after acquiring an additional 3,050,405 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Lithium Americas by 212.7% during the fourth quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after acquiring an additional 2,082,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Lithium Americas by 1.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock valued at $7,350,000 after acquiring an additional 45,941 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Lithium Americas by 44.3% in the 3rd quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock worth $13,736,000 after purchasing an additional 739,007 shares during the period.

Lithium Americas Stock Down 4.7%

Shares of Lithium Americas stock opened at $4.54 on Friday. The business has a fifty day simple moving average of $5.18 and a 200 day simple moving average of $4.85. The stock has a market cap of $1.38 billion, a PE ratio of -4.32 and a beta of 1.55. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84. Lithium Americas has a 12 month low of $2.31 and a 12 month high of $10.52.

Lithium Americas (NYSE:LAC) last released its earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. Research analysts predict that Lithium Americas will post -0.12 EPS for the current year.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.