Brokerages Set Lithium Americas Corp. (TSE:LAC) Target Price at C$7.50

Lithium Americas Corp. (TSE:LAC) has been given an average recommendation of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$7.50.

A number of research analysts recently commented on LAC shares. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. National Bankshares boosted their price objective on shares of Lithium Americas from C$7.25 to C$7.50 and gave the company an “outperform” rating in a research report on Friday, January 10th. Wedbush raised shares of Lithium Americas to a “hold” rating in a research report on Thursday, December 19th. National Bank Financial raised shares of Lithium Americas from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th.

Lithium Americas Stock Down 2.4 %

TSE LAC opened at C$4.45 on Friday. Lithium Americas has a 12 month low of C$2.87 and a 12 month high of C$10.59. The company’s 50 day simple moving average is C$4.88 and its 200 day simple moving average is C$4.23. The company has a debt-to-equity ratio of 0.69, a current ratio of 20.15 and a quick ratio of 52.06. The company has a market capitalization of C$970.10 million, a P/E ratio of -27.81 and a beta of 1.58.

Lithium Americas (TSE:LAC) last released its quarterly earnings results on Tuesday, November 5th. The company reported C($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.03) by C$0.01. Equities research analysts expect that Lithium Americas will post 1.3803828 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lithium Americas news, Director Alun Robert Doyle bought 10,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average cost of C$4.47 per share, with a total value of C$44,748.00. Insiders own 7.40% of the company’s stock.

About Lithium Americas

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.