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

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

LAC has been the topic of several recent analyst reports. Wedbush began coverage on Lithium Americas in a report on Monday, April 20th. They set a “neutral” rating and a $8.00 price objective on the stock. Wall Street Zen cut Lithium Americas from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Scotia dropped their target price on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a report on Monday, May 25th. The Goldman Sachs Group assumed coverage on shares of Lithium Americas in a research note on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, July 24th.

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. Van ECK Associates Corp raised its stake in shares of Lithium Americas by 20.8% in the 4th quarter. Van ECK Associates Corp now owns 17,495,908 shares of the company’s stock valued at $76,282,000 after purchasing an additional 3,016,293 shares during the period. Millennium Management LLC boosted its position in shares of Lithium Americas by 35.8% during the fourth quarter. Millennium Management LLC now owns 4,489,568 shares of the company’s stock worth $19,575,000 after buying an additional 1,182,465 shares during the period. Legal & General Group Plc boosted its position in shares of Lithium Americas by 212.7% during the fourth quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after buying an additional 2,082,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Lithium Americas by 1.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock worth $7,350,000 after buying an additional 45,941 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Lithium Americas by 44.3% during the third quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock worth $13,736,000 after buying an additional 739,007 shares in the last quarter.

Lithium Americas Stock Down 2.1%

NYSE:LAC opened at $3.02 on Friday. Lithium Americas has a 1 year low of $2.62 and a 1 year high of $10.52. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -7.38 and a beta of 2.57. The stock has a 50-day moving average price of $3.78 and a two-hundred day moving average price of $4.45.

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.