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

Lithium Americas Corp. (NYSE:LAC) has earned a consensus rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $3.88.

A number of equities research analysts recently weighed in on the company. National Bank Financial cut Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Friday, May 16th. Scotiabank lowered their target price on Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating on the stock in a report on Monday, March 31st. Wedbush restated a “neutral” rating and issued a $5.00 price target on shares of Lithium Americas in a research report on Friday, May 16th. National Bankshares lowered shares of Lithium Americas from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 16th. Finally, Evercore ISI initiated coverage on shares of Lithium Americas in a report on Thursday, April 17th. They set an “outperform” rating and a $4.50 target price for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Lithium Americas by 8.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,254,848 shares of the company’s stock valued at $9,732,000 after buying an additional 240,418 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Lithium Americas by 44.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock worth $2,836,000 after acquiring an additional 324,518 shares during the period. Teamwork Financial Advisors LLC raised its holdings in Lithium Americas by 20.1% in the 1st quarter. Teamwork Financial Advisors LLC now owns 857,754 shares of the company’s stock valued at $2,325,000 after acquiring an additional 143,373 shares during the last quarter. Quinn Opportunity Partners LLC raised its holdings in Lithium Americas by 1,132.5% in the 4th quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company’s stock valued at $2,411,000 after acquiring an additional 745,777 shares during the last quarter. Finally, HITE Hedge Asset Management LLC lifted its stake in shares of Lithium Americas by 0.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company’s stock worth $1,994,000 after purchasing an additional 4,445 shares during the period.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $2.70 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.35 and a current ratio of 10.35. Lithium Americas has a one year low of $2.02 and a one year high of $5.20. The firm has a market capitalization of $591.03 million, a P/E ratio of -16.88 and a beta of 0.69. The company’s fifty day moving average is $2.81 and its two-hundred day moving average is $2.90.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Analysts forecast that Lithium Americas will post -0.12 EPS for the current fiscal year.

About Lithium Americas

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.