Lithium Americas Corp. (NYSE:LAC) Receives Consensus Rating of “Hold” from Brokerages

Shares of Lithium Americas Corp. (NYSE:LAC) have received a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $5.8125.

Several equities research analysts recently commented on LAC shares. Scotiabank upped their target price on Lithium Americas from $5.00 to $7.00 and gave the company a “sector perform” rating in a research report on Monday, January 12th. Jefferies Financial Group reissued a “buy” rating on shares of Lithium Americas in a research note on Monday, February 23rd. TD Securities upgraded Lithium Americas to a “hold” rating in a report on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Wednesday, January 28th.

Institutional Investors Weigh In On Lithium Americas

A number of large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its stake in Lithium Americas by 44.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after purchasing an additional 324,518 shares in the last quarter. Creative Planning boosted its position in shares of Lithium Americas by 18.4% during the 2nd quarter. Creative Planning now owns 48,936 shares of the company’s stock worth $131,000 after purchasing an additional 7,610 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Lithium Americas in the 2nd quarter valued at about $39,000. Invesco Ltd. grew its stake in shares of Lithium Americas by 38.0% in the 2nd quarter. Invesco Ltd. now owns 1,666,561 shares of the company’s stock valued at $4,466,000 after buying an additional 459,252 shares during the period. Finally, Walleye Capital LLC bought a new stake in Lithium Americas in the 2nd quarter valued at about $28,000.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $3.96 on Friday. The company has a market capitalization of $1.20 billion, a PE ratio of -8.60 and a beta of 1.49. The company has a quick ratio of 5.16, a current ratio of 5.16 and a debt-to-equity ratio of 0.50. Lithium Americas has a twelve month low of $2.31 and a twelve month high of $10.52. The firm has a fifty day simple moving average of $4.71 and a 200 day simple moving average of $5.26.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.33). On average, sell-side analysts forecast that Lithium Americas will post -0.12 EPS for the current year.

About Lithium Americas

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.