Brokerages Set Lithium Americas Corp. (NYSE:LAC) PT at $5.81

Shares of Lithium Americas Corp. (NYSE:LAC) have earned an average rating of “Hold” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $5.8125.

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group raised shares of Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Jefferies Financial Group restated a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. JPMorgan Chase & Co. upgraded Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Thursday, November 6th. Finally, Scotiabank boosted their price objective on Lithium Americas from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, January 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teamwork Financial Advisors LLC raised its stake in Lithium Americas by 26.6% during the third quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company’s stock worth $7,319,000 after purchasing an additional 268,918 shares during the period. Old West Investment Management LLC acquired a new stake in shares of Lithium Americas during the 3rd quarter worth approximately $7,647,000. Bank of Montreal Can raised its position in shares of Lithium Americas by 3,173.0% during the 2nd quarter. Bank of Montreal Can now owns 846,998 shares of the company’s stock valued at $2,266,000 after buying an additional 821,120 shares during the period. Golden State Wealth Management LLC grew its position in Lithium Americas by 174.1% in the second quarter. Golden State Wealth Management LLC now owns 37,000 shares of the company’s stock worth $99,000 after acquiring an additional 23,500 shares during the period. Finally, Reaves W H & Co. Inc. acquired a new stake in Lithium Americas during the third quarter worth $1,142,000.

Lithium Americas Trading Down 4.6%

Shares of Lithium Americas stock opened at $4.59 on Tuesday. The company has a market cap of $1.39 billion, a P/E ratio of -4.37 and a beta of 1.49. The firm has a 50-day simple moving average of $5.13 and a two-hundred day simple moving average of $5.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77. Lithium Americas has a fifty-two week low of $2.31 and a fifty-two week high of $10.52.

About Lithium Americas

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.