Analysts Set Lithium Americas Corp. (NYSE:LAC) Price Target at $8.67

Shares of Lithium Americas Corp. (NYSE:LAC) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $8.67.

A number of research firms have recently weighed in on LAC. Piper Sandler started coverage on Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 price target for the company. Eight Capital dropped their price target on shares of Lithium Americas from $13.50 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. HSBC decreased their price objective on shares of Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a report on Friday, April 19th. Finally, National Bank Financial upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, June 5th.

Institutional Trading of Lithium Americas

A number of large investors have recently modified their holdings of LAC. Vanguard Group Inc. grew its stake in Lithium Americas by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock worth $60,116,000 after purchasing an additional 39,419 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Lithium Americas in the 4th quarter valued at about $217,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Lithium Americas by 8.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock worth $1,627,000 after buying an additional 18,388 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Lithium Americas during the fourth quarter worth approximately $37,000. Finally, General Motors Holdings LLC raised its holdings in Lithium Americas by 100.0% in the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock valued at $190,829,000 after acquiring an additional 15,002,245 shares in the last quarter.

Lithium Americas Stock Down 3.9 %

Shares of LAC stock opened at $2.19 on Monday. The firm’s 50-day moving average is $2.75 and its two-hundred day moving average is $4.27. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $12.38.

Lithium Americas (NYSE:LAC) last posted its earnings results on Monday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). As a group, equities analysts predict that Lithium Americas will post -0.09 EPS for the current fiscal year.

About Lithium Americas

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.