Lithium Americas Corp. (NYSE:LAC) Receives $5.50 Consensus Price Target from Brokerages

Lithium Americas Corp. (NYSE:LAC) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $5.50.

LAC has been the topic of several recent analyst reports. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. B. Riley dropped their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Scotiabank cut their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lowered their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, Piper Sandler began coverage on shares of Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp lifted its position in Lithium Americas by 69.8% during the second quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock valued at $10,591,000 after purchasing an additional 1,625,149 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Lithium Americas during the 2nd quarter valued at about $10,252,000. Point72 Asset Management L.P. lifted 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 last quarter. Teamwork Financial Advisors LLC grew its position in Lithium Americas by 2,274.3% in the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock worth $1,077,000 after acquiring an additional 381,965 shares in the last quarter. Finally, Merewether Investment Management LP bought a new stake in Lithium Americas during the second quarter worth approximately $858,000.

Lithium Americas Trading Down 4.2 %

NYSE LAC opened at $3.19 on Friday. The business’s fifty day moving average is $2.61 and its 200 day moving average is $3.27. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $7.86.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). As a group, equities research analysts predict that Lithium Americas will post -0.09 earnings per share for the current fiscal year.

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.