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

Lithium Americas Corp. (NYSE:LAC) has received an average recommendation of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $11.46.

LAC has been the topic of several analyst reports. HSBC lowered their target price on shares of Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a report on Friday, April 19th. Eight Capital lowered their target price on shares of Lithium Americas from $13.50 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, May 14th. Finally, National Bank Financial raised shares of Lithium Americas to a “hold” rating in a report on Wednesday, June 5th.

Lithium Americas Price Performance

Shares of Lithium Americas stock opened at $3.02 on Thursday. The company’s fifty day moving average is $3.26 and its two-hundred day moving average is $4.62. Lithium Americas has a 1 year low of $2.49 and a 1 year high of $12.38.

Lithium Americas (NYSE:LAC) last issued its earnings results on Monday, May 13th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). On average, sell-side analysts anticipate that Lithium Americas will post -0.1 earnings per share for the current year.

Institutional Trading of Lithium Americas

A number of institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its position in Lithium Americas by 53.7% during the third quarter. Alps Advisors Inc. now owns 17,183 shares of the company’s stock worth $292,000 after acquiring an additional 6,004 shares during the last quarter. Townsquare Capital LLC raised its position in Lithium Americas by 19.0% during the third quarter. Townsquare Capital LLC now owns 76,053 shares of the company’s stock worth $1,294,000 after acquiring an additional 12,134 shares during the last quarter. Citigroup Inc. raised its position in Lithium Americas by 68.2% during the third quarter. Citigroup Inc. now owns 17,119 shares of the company’s stock worth $292,000 after acquiring an additional 6,941 shares during the last quarter. Vanguard Group Inc. raised its position in Lithium Americas by 1.1% during the third quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock worth $60,116,000 after acquiring an additional 39,419 shares during the last quarter. Finally, Hedges Asset Management LLC acquired a new position in Lithium Americas during the fourth quarter worth about $112,000.

Lithium Americas Company Profile

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.