Lithium Americas Corp. (NYSE:LAC) Receives $5.56 Average Price Target from Brokerages

Lithium Americas Corp. (NYSE:LAC) has been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.51.

A number of brokerages have recently commented on LAC. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Piper Sandler decreased their target price on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday. Scotiabank cut their price objective on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. BMO Capital Markets raised Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Finally, B. Riley boosted their price target on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Lithium Americas during the 2nd quarter valued at $10,252,000. Point72 Asset Management L.P. raised its holdings in Lithium Americas by 580.1% during the second 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. Teamwork Financial Advisors LLC raised its holdings in Lithium Americas by 2,274.3% during the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after acquiring an additional 381,965 shares during the period. Tidal Investments LLC lifted its position in shares of Lithium Americas by 31.8% in the third quarter. Tidal Investments LLC now owns 379,078 shares of the company’s stock valued at $1,024,000 after acquiring an additional 91,353 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lithium Americas by 41.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock worth $1,008,000 after acquiring an additional 108,993 shares during the period.

Lithium Americas Stock Performance

NYSE LAC opened at $3.29 on Thursday. Lithium Americas has a one year low of $2.02 and a one year high of $7.71. The stock has a 50-day moving average of $3.59 and a 200 day moving average of $3.00. The company has a market capitalization of $726.05 million, a price-to-earnings ratio of -27.42 and a beta of 1.67.

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.