Lithium Americas Corp. (NYSE:LAC) Stock Has Consensus Target Price of $5.25 According to Brokerages

Shares of Lithium Americas Corp. (NYSE:LAC) have earned a consensus rating of “Hold” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $5.25.

A number of brokerages have commented on LAC. JPMorgan Chase & Co. initiated coverage on Lithium Americas in a research report on Wednesday, September 9th. They set an “overweight” rating and a $6.00 price target for the company. BMO Capital Markets set a $3.50 price target on shares of Lithium Americas in a research report on Tuesday, October 6th. Wall Street Zen upgraded Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Canaccord Genuity Group upgraded shares of Lithium Americas from a “hold” rating to a “speculative buy” rating in a research report on Thursday, October 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research note on Thursday, October 22nd.

Lithium Americas Price Performance

Shares of LAC stock opened at $1.90 on Friday. The business’s fifty day simple moving average is $2.47 and its 200-day simple moving average is $3.82. Lithium Americas has a 12-month low of $1.77 and a 12-month high of $6.96. The company has a quick ratio of 5.47, a current ratio of 5.47 and a debt-to-equity ratio of 0.81.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. As a group, analysts expect that Lithium Americas will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds have recently modified their holdings of the company. Independent Advisor Alliance acquired a new stake in Lithium Americas during the third quarter worth about $32,000. Bogart Wealth LLC boosted its holdings in Lithium Americas by 666.2% in the 3rd quarter. Bogart Wealth LLC now owns 23,002 shares of the company’s stock valued at $60,000 after purchasing an additional 20,000 shares during the last quarter. Cibc World Market Inc. boosted its holdings in Lithium Americas by 62.9% in the 3rd quarter. Cibc World Market Inc. now owns 42,500 shares of the company’s stock valued at $112,000 after purchasing an additional 16,417 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Lithium Americas by 2,002.5% in the 3rd quarter. Bessemer Group Inc. now owns 29,435 shares of the company’s stock valued at $77,000 after buying an additional 28,035 shares during the period. Finally, Lido Advisors LLC grew its stake in shares of Lithium Americas by 50.7% in the 3rd quarter. Lido Advisors LLC now owns 16,017 shares of the company’s stock valued at $42,000 after buying an additional 5,391 shares during the period.

About Lithium Americas

Lithium Americas Corp. is a Canadian company focused on developing lithium resources in North America. Its principal project is Thacker Pass, a lithium deposit in Humboldt County, Nevada, where the company plans to mine and process lithium-bearing claystone. The planned operation is designed to produce lithium carbonate for use in electric-vehicle batteries and energy storage systems. The project is intended to serve the North American battery supply chain; Lithium Americas is developing the resource rather than operating it as a producing mine.