Wedbush Begins Coverage on Lithium Americas (NYSE:LAC)

by · The Cerbat Gem

Research analysts at Wedbush assumed coverage on shares of Lithium Americas (NYSE:LAC – Get Free Report) in a report issued on Thursday, MarketBeat.com reports. The firm set a “neutral” rating and a $5.00 price target on the stock. Wedbush’s target price points to a potential upside of 68.35% from the stock’s current price.

LAC has been the topic of several other research reports. Scotiabank dropped their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday, October 18th. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Finally, B. Riley raised their target price on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.56.

Check Out Our Latest Report on Lithium Americas

Lithium Americas Stock Up 1.0 %

NYSE:LAC opened at $2.97 on Thursday. The company’s 50 day moving average is $3.66 and its 200-day moving average is $2.99. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.71. The firm has a market cap of $655.43 million and a price-to-earnings ratio of -24.75.

Institutional Trading of Lithium Americas

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Lithium Americas by 131.1% in the second quarter. SG Americas Securities LLC now owns 23,751 shares of the company’s stock valued at $64,000 after purchasing an additional 13,472 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Lithium Americas by 9.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 264,387 shares of the company’s stock valued at $709,000 after buying an additional 22,313 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Lithium Americas in the 2nd quarter valued at $30,000. Van ECK Associates Corp lifted its holdings in shares of Lithium Americas by 69.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock worth $10,591,000 after acquiring an additional 1,625,149 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in shares of Lithium Americas during the 2nd quarter valued at about $97,000.

Lithium Americas Company Profile

(Get Free Report)

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.

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