Lithium Americas Corp. (NYSE:LAC) Receives $5.44 Consensus Price Target from Analysts

by · The Markets Daily

Shares of Lithium Americas Corp. (NYSE:LAC – Get Free Report) have been given an average recommendation of “Hold” by the twelve ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.4444.

Several brokerages recently issued reports on LAC. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, July 24th. Wall Street Zen downgraded shares of Lithium Americas from a “sell” rating to a “strong sell” rating in a report on Saturday. Wedbush assumed coverage on shares of Lithium Americas in a research note on Monday, April 20th. They set a “neutral” rating and a $8.00 price objective for the company. Scotia reduced their price target on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a report on Monday, May 25th. Finally, The Goldman Sachs Group initiated 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 on the stock.

Read Our Latest Stock Analysis on Lithium Americas

Lithium Americas Trading Up 3.5%

Shares of NYSE:LAC opened at $3.08 on Friday. The stock has a 50 day moving average of $3.86 and a 200 day moving average of $4.49. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.08 billion, a PE ratio of -7.52 and a beta of 2.57. Lithium Americas has a 12-month low of $2.53 and a 12-month high of $10.52.

Institutional Trading of Lithium Americas

A number of hedge funds have recently bought and sold shares of the stock. Main Street Group LTD purchased a new stake in shares of Lithium Americas during the first quarter valued at about $26,000. Steward Partners Investment Advisory LLC lifted its holdings in Lithium Americas by 149.2% in the fourth 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 period. IFP Advisors Inc grew its position in Lithium Americas by 1,253.3% during the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after buying an additional 6,016 shares during the period. Quarry LP purchased a new stake in shares of Lithium Americas in the third quarter valued at approximately $28,000. Finally, Walleye Capital LLC purchased a new stake in Lithium Americas in the 2nd quarter worth $28,000.

Lithium Americas Company Profile

(Get Free Report)

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.

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