Lithium Americas (NYSE:LAC) Earns Neutral Rating from Analysts at Wedbush

Wedbush initiated coverage on shares of Lithium Americas (NYSE:LAC) in a research note released on Thursday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $5.00 price target on the stock.

A number of other analysts have also weighed in on LAC. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. B. Riley increased their price target on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets raised Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Scotiabank reduced 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. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Lithium Americas has an average rating of “Hold” and a consensus price target of $5.56.

Lithium Americas Stock Performance

NYSE LAC opened at $2.97 on Thursday. Lithium Americas has a one year low of $2.02 and a one year high of $7.71. The firm has a 50 day simple moving average of $3.66 and a 200-day simple moving average of $2.98. The firm has a market cap of $655.43 million and a price-to-earnings ratio of -24.75.

Hedge Funds Weigh In On Lithium Americas

Several large investors have recently bought and sold shares of LAC. Renaissance Technologies LLC purchased a new stake in shares of Lithium Americas in the 2nd quarter valued at about $520,000. Marshall Wace LLP purchased a new stake in Lithium Americas in the second quarter valued at approximately $10,252,000. Merewether Investment Management LP acquired a new stake in shares of Lithium Americas in the second quarter valued at approximately $858,000. Point72 Asset Management L.P. increased its holdings in shares of Lithium Americas by 580.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after acquiring an additional 1,584,123 shares during the period. Finally, Teamwork Financial Advisors LLC raised its position in Lithium Americas by 2,274.3% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after purchasing an additional 381,965 shares during the last quarter.

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.