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

Lithium Americas Corp. (NYSE:LAC) has been given an average rating of “Hold” by the eleven analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $5.33.

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. The Goldman Sachs Group assumed coverage on shares of Lithium Americas in a research report on Wednesday, July 1st. They set a “neutral” rating and a $4.50 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Lithium Americas in a research note on Wednesday, September 9th. They issued an “overweight” rating and a $6.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, July 24th. Finally, BMO Capital Markets lowered their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “market perform” rating on the stock in a research note on Friday, August 14th.

Hedge Funds Weigh In On Lithium Americas

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc increased its position in 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 buying an additional 2,082,891 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Lithium Americas by 320.7% in the fourth quarter. BNP Paribas Financial Markets now owns 1,479,668 shares of the company’s stock valued at $6,451,000 after buying an additional 1,127,964 shares during the last quarter. Reaves W H & Co. Inc. boosted its stake in shares of Lithium Americas by 420.0% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,040,000 shares of the company’s stock worth $4,534,000 after acquiring an additional 840,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Lithium Americas by 229.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 565,135 shares of the company’s stock worth $2,231,000 after acquiring an additional 393,842 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in shares of Lithium Americas during the 4th quarter worth approximately $1,025,000.

Lithium Americas Stock Performance

Shares of NYSE LAC opened at $2.75 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.47 and a current ratio of 5.47. The stock has a 50 day moving average price of $3.02 and a 200 day moving average price of $3.94. The stock has a market capitalization of $1.00 billion, a PE ratio of -7.45 and a beta of 2.59. Lithium Americas has a 52 week low of $2.67 and a 52 week high of $10.52.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Analysts predict that Lithium Americas will post -0.07 earnings per share for the current fiscal year.

Lithium Americas Company Profile

Lithium Americas Corp. (NYSE: LAC) is a North American lithium development company focused on advancing domestic sources of battery-grade lithium. Its principal asset is the Thacker Pass lithium project in Humboldt County, Nevada, which is designed to produce lithium carbonate for use in electric vehicle batteries and other energy-storage applications.

Thacker Pass is being developed in phases and is intended to support the North American battery supply chain. The project uses claystone-based resources and includes plans for mining, processing and production of lithium carbonate at an integrated site.