Brokerages Set Lithium Americas Corp. (NYSE:LAC) Price Target at $5.56

Shares of Lithium Americas Corp. (NYSE:LAC) have been assigned an average rating of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $5.5625.

LAC has been the topic of a number of recent analyst reports. Wedbush started coverage on Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research note on Monday, April 27th. Scotiabank dropped their price target on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Monday, April 6th. Wall Street Zen upgraded Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Scotia dropped their price target on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a research note on Monday, May 25th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Main Street Group LTD purchased a new position in Lithium Americas during the 1st quarter worth approximately $26,000. Steward Partners Investment Advisory LLC grew its stake in Lithium Americas by 149.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after buying an additional 3,550 shares during the last quarter. IFP Advisors Inc grew its stake in Lithium Americas by 1,253.3% during the 4th quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock worth $28,000 after buying an additional 6,016 shares during the last quarter. Quarry LP acquired a new stake in Lithium Americas during the 3rd quarter worth approximately $28,000. Finally, Walleye Capital LLC acquired a new stake in Lithium Americas during the 2nd quarter worth approximately $28,000.

Lithium Americas Trading Up 1.0%

LAC opened at $4.60 on Thursday. Lithium Americas has a one year low of $2.47 and a one year high of $10.52. The company has a market cap of $1.61 billion, a P/E ratio of -11.21 and a beta of 2.32. The company has a debt-to-equity ratio of 0.65, a quick ratio of 7.36 and a current ratio of 7.36. The business’s 50-day simple moving average is $4.88 and its 200-day simple moving average is $4.90.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.07. As a group, equities research analysts expect that Lithium Americas will post -0.14 EPS for the current fiscal year.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.