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

Lithium Americas Corp. (NYSE:LAC) has been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $5.8125.

A number of analysts have weighed in on LAC shares. TD Cowen reissued a “hold” rating and set a $5.00 target price on shares of Lithium Americas in a research report on Thursday, September 25th. JPMorgan Chase & Co. raised shares of Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, October 31st. Scotiabank upped their price target on shares of Lithium Americas from $5.00 to $7.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st.

Insider Buying and Selling

In related news, SVP Edward Grandy sold 6,183 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $4.50, for a total transaction of $27,823.50. Following the completion of the sale, the senior vice president owned 135,466 shares of the company’s stock, valued at $609,597. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 10,960 shares of company stock worth $49,372 over the last ninety days. Company insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

Institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Lithium Americas by 0.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company’s stock valued at $1,405,000 after acquiring an additional 2,491 shares during the period. Occidental Asset Management LLC bought a new stake in Lithium Americas in the fourth quarter valued at $148,000. Tudor Investment Corp ET AL bought a new stake in Lithium Americas in the third quarter valued at $120,000. Second Line Capital LLC acquired a new position in shares of Lithium Americas during the third quarter valued at about $116,000. Finally, PharVision Advisers LLC bought a new position in shares of Lithium Americas during the 3rd quarter worth about $169,000.

Lithium Americas Stock Performance

NYSE LAC opened at $6.06 on Monday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -5.77 and a beta of 1.57. Lithium Americas has a twelve month low of $2.31 and a twelve month high of $10.52. The stock has a fifty day simple moving average of $5.03 and a 200 day simple moving average of $4.50. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. Sell-side analysts expect that Lithium Americas will post -0.12 EPS for the current year.

Lithium Americas Company Profile

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.