Lithium Americas Corp. (NYSE:LAC) Receives $5.81 Consensus Target Price from Analysts

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

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research note on Wednesday, January 28th. Jefferies Financial Group reissued a “buy” rating on shares of Lithium Americas in a report on Monday, February 23rd. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Finally, Scotiabank upped their price target on shares of Lithium Americas from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, January 12th.

Lithium Americas Price Performance

Shares of NYSE:LAC opened at $3.80 on Friday. Lithium Americas has a 52 week low of $2.31 and a 52 week high of $10.52. The company has a 50-day moving average price of $4.78 and a 200 day moving average price of $5.26. The company has a market cap of $1.15 billion, a P/E ratio of -8.25 and a beta of 1.48. The company has a quick ratio of 5.16, a current ratio of 5.16 and a debt-to-equity ratio of 0.50.

Lithium Americas (NYSE:LAC) last released its earnings results on Thursday, March 19th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.33). Research analysts predict that Lithium Americas will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of Lithium Americas by 149.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after acquiring an additional 3,550 shares during the period. IFP Advisors Inc increased its stake in Lithium Americas by 1,253.3% in the 4th quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after purchasing an additional 6,016 shares in the last quarter. Quarry LP acquired a new position in Lithium Americas during the third quarter worth $28,000. Walleye Capital LLC purchased a new stake in Lithium Americas during the second quarter worth $28,000. Finally, IHT Wealth Management LLC purchased a new stake in Lithium Americas during the second quarter worth $28,000.

Lithium Americas Company Profile

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.