Analysts Set Lithium Americas Corp. (NYSE:LAC) PT at $5.44

Lithium Americas Corp. (NYSE:LAC) has been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $5.4444.

Several research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Wedbush began coverage on Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price target on the stock. Scotia dropped their price target on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a research note on Monday, May 25th. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, The Goldman Sachs Group initiated coverage on shares of Lithium Americas in a research report on Wednesday, July 1st. They set a “neutral” rating and a $4.50 price objective on the stock.

Lithium Americas Price Performance

Shares of NYSE LAC traded down $0.24 during midday trading on Monday, reaching $3.31. The stock had a trading volume of 28,681,289 shares, compared to its average volume of 7,433,701. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -8.09 and a beta of 2.47. Lithium Americas has a 12-month low of $2.47 and a 12-month high of $10.52. The stock has a 50-day moving average of $4.64 and a 200-day moving average of $4.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 7.36 and a current ratio of 7.36.

Institutional Trading of Lithium Americas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in shares of Lithium Americas by 158.1% in the third quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock worth $82,679,000 after purchasing an additional 8,868,971 shares during the last quarter. Kailix Advisors LLC purchased a new position in Lithium Americas during the 4th quarter valued at approximately $5,123,000. Revisor Wealth Management LLC increased its stake in Lithium Americas by 123.7% in the 4th quarter. Revisor Wealth Management LLC now owns 366,418 shares of the company’s stock worth $1,598,000 after acquiring an additional 202,594 shares during the last quarter. Legal & General Group Plc increased its stake in Lithium Americas by 212.7% in the 4th quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after acquiring an additional 2,082,891 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Lithium Americas by 510.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 142,234 shares of the company’s stock worth $619,000 after acquiring an additional 118,922 shares in the last quarter.

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.