Lithium Americas Corp. (NYSE:LAC) Given Average Recommendation of “Hold” by Brokerages

Lithium Americas Corp. (NYSE:LAC) has received an average rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $4.80.

A number of brokerages have issued reports on LAC. Piper Sandler reduced their price objective on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Wedbush assumed coverage on Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 target price for the company. Finally, Cormark upgraded Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th.

Lithium Americas Price Performance

NYSE LAC opened at $3.04 on Tuesday. The company has a fifty day moving average price of $3.01 and a 200-day moving average price of $3.15. The firm has a market cap of $669.78 million, a price-to-earnings ratio of -25.29 and a beta of 1.77. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $7.71.

Hedge Funds Weigh In On Lithium Americas

Institutional investors have recently bought and sold shares of the company. Sage Investment Counsel LLC purchased a new stake in Lithium Americas in the fourth quarter worth $30,000. Allworth Financial LP increased its holdings in Lithium Americas by 99.4% in the 4th quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after acquiring an additional 4,893 shares during the last quarter. Mariner LLC bought a new stake in Lithium Americas in the 4th quarter valued at about $31,000. Susquehanna Fundamental Investments LLC purchased a new stake in Lithium Americas during the fourth quarter valued at about $34,000. Finally, Axxcess Wealth Management LLC bought a new position in Lithium Americas during the fourth quarter worth about $37,000.

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.