Lithium Americas Corp. (NYSE:LAC) Receives Consensus Recommendation of “Hold” from Analysts

Lithium Americas Corp. (NYSE:LAC) has earned an average rating of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $5.3333.

LAC has been the subject of a number of research analyst reports. Scotia cut their price target on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a report on Monday, May 25th. Wall Street Zen raised Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, July 24th. BMO Capital Markets decreased their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Friday, August 14th. Finally, The Goldman Sachs Group started coverage on shares of Lithium Americas in a research note on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LAC. Millennium Management LLC raised its stake in shares of Lithium Americas by 1,188.3% in the 3rd quarter. Millennium Management LLC now owns 3,307,103 shares of the company’s stock valued at $18,885,000 after acquiring an additional 3,050,405 shares in the last quarter. Van ECK Associates Corp boosted its position in Lithium Americas by 20.8% during the fourth quarter. Van ECK Associates Corp now owns 17,495,908 shares of the company’s stock worth $76,282,000 after purchasing an additional 3,016,293 shares during the period. Firetrail Investments PTY Ltd. acquired a new position in Lithium Americas during the second quarter valued at approximately $17,542,000. Legal & General Group Plc grew its holdings in Lithium Americas by 212.7% during the fourth quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock valued at $13,349,000 after purchasing an additional 2,082,891 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Lithium Americas in the fourth quarter valued at approximately $6,055,000.

Lithium Americas Stock Up 1.0%

NYSE:LAC opened at $3.10 on Tuesday. The company has a current ratio of 5.47, a quick ratio of 5.47 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $3.26 and a 200-day moving average of $4.18. The firm has a market capitalization of $1.13 billion, a PE ratio of -8.38 and a beta of 2.58. Lithium Americas has a 52 week low of $2.67 and a 52 week high of $10.52.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Analysts predict that Lithium Americas will post -0.11 EPS for the current year.

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.