Lithium Americas Corp. (LAC) – What Are Investment Firms Thinking About This Stock?

Shares of Lithium Americas Corp. (NYSE:LAC) have earned an average recommendation of “Hold” from the eleven brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $5.25.

LAC has been the subject of several research reports. Canaccord Genuity Group raised shares of Lithium Americas from a “hold” rating to a “speculative buy” rating in a research note on Thursday. The Goldman Sachs Group assumed coverage on shares of Lithium Americas in a report on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of Lithium Americas in a report on Wednesday, September 9th. They issued an “overweight” rating and a $6.00 price objective on the stock. BMO Capital Markets set a $3.50 price objective on shares of Lithium Americas in a research report on Tuesday, October 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, July 24th.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAC. Teamwork Financial Advisors LLC boosted its stake in shares of Lithium Americas by 3.9% during the 2nd quarter. Teamwork Financial Advisors LLC now owns 893,395 shares of the company’s stock worth $3,440,000 after buying an additional 33,475 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lithium Americas by 229.9% in the first quarter. Dimensional Fund Advisors LP now owns 565,135 shares of the company’s stock valued at $2,231,000 after acquiring an additional 393,842 shares during the last quarter. Revisor Wealth Management LLC increased its position in shares of Lithium Americas by 7.4% in the first quarter. Revisor Wealth Management LLC now owns 393,552 shares of the company’s stock valued at $1,555,000 after acquiring an additional 27,134 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Lithium Americas by 11.4% in the first quarter. The Manufacturers Life Insurance Company now owns 343,290 shares of the company’s stock valued at $1,363,000 after acquiring an additional 35,131 shares during the last quarter. Finally, Credit Industriel ET Commercial bought a new stake in Lithium Americas during the first quarter worth about $908,000.

Lithium Americas Stock Up 0.2%

NYSE:LAC opened at $2.19 on Wednesday. The stock has a 50-day simple moving average of $2.85 and a 200 day simple moving average of $3.75. Lithium Americas has a 52-week low of $2.04 and a 52-week high of $7.25. The company has a market cap of $793.24 million, a PE ratio of -5.91 and a beta of 2.64. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.47 and a current ratio of 5.47.

Lithium Americas (NYSE:LAC) last released its earnings results on Thursday, August 13th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. On average, sell-side analysts expect that Lithium Americas will post -0.07 EPS for the current fiscal year.

Lithium Americas Company Profile

Lithium Americas Corp. is a lithium development company focused on advancing domestic battery-materials production in North America. Its principal asset is the Thacker Pass lithium project in Humboldt County, Nevada, one of the largest known lithium deposits in the United States. The project is designed to produce battery-grade lithium carbonate for use in electric vehicle batteries and other energy-storage applications.

Thacker Pass is being developed in phases and is expected to use a processing method intended to recover lithium from sedimentary claystone.