Lithium Americas (NYSE:LAC) Upgraded by Cowen to Outperform

Cowen upgraded shares of Lithium Americas (NYSE:LAC) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday morning, Analyst Price Targets reports. They currently have $40.00 price objective on the stock, up from their previous price objective of $30.00.

Several other research analysts have also recently weighed in on LAC. Zacks Investment Research cut shares of Lithium Americas from a buy rating to a hold rating in a report on Friday, October 22nd. Piper Sandler raised shares of Lithium Americas from a neutral rating to an overweight rating and upped their price target for the stock from $32.00 to $41.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas from a hold rating to a buy rating and upped their price target for the stock from $31.00 to $34.00 in a report on Monday, January 10th. upped their price target on shares of Lithium Americas from C$35.00 to C$46.00 and gave the stock a buy rating in a report on Thursday, November 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Lithium Americas from $28.00 to $39.00 and gave the stock an overweight rating in a report on Friday, November 19th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $38.00.

Shares of LAC stock opened at $30.46 on Wednesday. The company’s fifty day simple moving average is $32.36 and its two-hundred day simple moving average is $24.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 57.43 and a quick ratio of 57.43. Lithium Americas has a 1 year low of $11.84 and a 1 year high of $41.56.

Lithium Americas (NYSE:LAC) last issued its earnings results on Monday, November 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). Research analysts anticipate that Lithium Americas will post -0.5 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Northern Oak Wealth Management Inc. boosted its position in Lithium Americas by 335.7% during the second quarter. Northern Oak Wealth Management Inc. now owns 2,135 shares of the company’s stock valued at $32,000 after buying an additional 1,645 shares during the period. Advisory Services Network LLC purchased a new stake in Lithium Americas during the second quarter valued at about $33,000. US Bancorp DE boosted its position in Lithium Americas by 81.0% during the third quarter. US Bancorp DE now owns 1,810 shares of the company’s stock valued at $41,000 after buying an additional 810 shares during the period. Retirement Group LLC boosted its position in Lithium Americas by 222.2% during the third quarter. Retirement Group LLC now owns 2,900 shares of the company’s stock valued at $65,000 after buying an additional 2,000 shares during the period. Finally, Legal & General Group Plc boosted its position in Lithium Americas by 78.8% during the second quarter. Legal & General Group Plc now owns 5,756 shares of the company’s stock valued at $86,000 after buying an additional 2,536 shares during the period. Institutional investors own 17.03% of the company’s stock.

About Lithium Americas

Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.

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Analyst Recommendations for Lithium Americas (NYSE:LAC)

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