Lithium Americas (NYSE:LAC) Trading 2.7% Higher – Should You Buy?

Lithium Americas Corp. (NYSE:LAC)’s stock price traded up 2.7% on Tuesday . The company traded as high as $5.07 and last traded at $5.00. 11,701,984 shares changed hands during trading, a decline of 2% from the average session volume of 11,939,676 shares. The stock had previously closed at $4.87.

Analysts Set New Price Targets

A number of brokerages recently commented on LAC. Wedbush began coverage on shares of Lithium Americas in a research note on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research note on Monday, April 27th. TD Securities raised shares of Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Scotiabank lowered their price objective on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.56.

Lithium Americas Stock Performance

The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -12.20 and a beta of 2.50. The stock’s 50 day moving average is $4.63 and its 200 day moving average is $4.90. The company has a current ratio of 7.36, a quick ratio of 5.16 and a debt-to-equity ratio of 0.65.

Lithium Americas (NYSE:LAC) last released its earnings results on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.07. On average, analysts predict that Lithium Americas Corp. will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAC. Main Street Group LTD purchased a new position in Lithium Americas in the 1st quarter valued at about $26,000. Steward Partners Investment Advisory LLC lifted its holdings in Lithium Americas by 149.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after purchasing an additional 3,550 shares in the last quarter. IFP Advisors Inc lifted its holdings in Lithium Americas by 1,253.3% in the 4th quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after purchasing an additional 6,016 shares in the last quarter. Quarry LP purchased a new position in Lithium Americas in the 3rd quarter valued at about $28,000. Finally, Walleye Capital LLC purchased a new position in Lithium Americas in the 2nd quarter valued at about $28,000.

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.