Lithium Americas (NYSE:LAC) Shares Gap Up – What’s Next?

Lithium Americas Corp. (NYSE:LAC) gapped up prior to trading on Wednesday . The stock had previously closed at $3.00, but opened at $3.21. Lithium Americas shares last traded at $3.1550, with a volume of 7,740,834 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LAC. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $6.00 price objective on shares of Lithium Americas in a research note on Wednesday. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. The Goldman Sachs Group started coverage on shares of Lithium Americas in a research note on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, July 24th. Finally, BMO Capital Markets decreased their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “market perform” rating on the stock in a research note on Friday, August 14th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and a consensus target price of $5.44.

Lithium Americas Price Performance

The company has a fifty day simple moving average of $3.15 and a two-hundred day simple moving average of $4.11. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.47 and a current ratio of 5.47. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -8.50 and a beta of 2.59.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. As a group, research analysts anticipate that Lithium Americas Corp. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

Several large investors have recently added to or reduced their stakes in the business. Main Street Group LTD acquired a new stake in Lithium Americas in the 1st quarter worth about $26,000. Steward Partners Investment Advisory LLC increased its stake in shares of Lithium Americas by 149.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after acquiring an additional 3,550 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of 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 acquiring an additional 6,016 shares during the period. Quarry LP purchased a new position in shares of Lithium Americas during the 3rd quarter worth about $28,000. Finally, Walleye Capital LLC purchased a new position in shares of Lithium Americas during the 2nd quarter worth about $28,000.

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.