Brokerages Set Lithium Americas Corp. (NYSE:LAC) PT at $4.80

Lithium Americas Corp. (NYSE:LAC) has received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $4.80.

A number of analysts have recently commented on LAC shares. Cormark raised Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Piper Sandler reduced their price target on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Wedbush initiated coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price objective for the company.

Lithium Americas Stock Performance

Shares of Lithium Americas stock opened at $2.97 on Tuesday. Lithium Americas has a 52 week low of $2.02 and a 52 week high of $7.71. The firm has a fifty day moving average of $3.01 and a two-hundred day moving average of $3.16. The stock has a market capitalization of $654.33 million, a price-to-earnings ratio of -24.71 and a beta of 1.77.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAC. Mackenzie Financial Corp lifted its holdings in shares of Lithium Americas by 3.9% in the fourth quarter. Mackenzie Financial Corp now owns 87,701 shares of the company’s stock valued at $262,000 after purchasing an additional 3,310 shares in the last quarter. National Bank of Canada FI lifted its stake in Lithium Americas by 13.2% in the 3rd quarter. National Bank of Canada FI now owns 37,129 shares of the company’s stock valued at $100,000 after acquiring an additional 4,340 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Lithium Americas by 4.4% during the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company’s stock worth $309,000 after acquiring an additional 4,379 shares during the last quarter. Allworth Financial LP grew its stake in shares of Lithium Americas by 99.4% during the 4th quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after acquiring an additional 4,893 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in shares of Lithium Americas by 46.2% in the fourth quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock valued at $47,000 after purchasing an additional 5,000 shares during the last quarter.

Lithium Americas Company Profile

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.