Lithium Americas Corp. (NYSE:LAC) Receives $5.30 Consensus PT from Brokerages

Lithium Americas Corp. (NYSE:LAC) has received an average recommendation of “Reduce” from the sixteen research firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $5.30.

A number of equities research analysts recently issued reports on the company. Cormark lowered Lithium Americas from a “moderate buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Jefferies Financial Group reduced their target price on Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Wedbush boosted their target price on shares of Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Scotiabank restated a “sector underperform” rating and issued a $5.00 price target (up from $2.75) on shares of Lithium Americas in a report on Monday, October 6th. Finally, Canaccord Genuity Group lowered shares of Lithium Americas from a “speculative buy” rating to a “sell” rating in a report on Thursday, October 2nd.

Insider Activity

In related news, VP Alexi Illya Zawadzki sold 353,914 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total value of $3,355,104.72. Following the transaction, the vice president owned 40,005 shares of the company’s stock, valued at $379,247.40. This represents a 89.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of Lithium Americas during the 1st quarter worth $73,000. Revisor Wealth Management LLC lifted its stake in Lithium Americas by 107.3% in the first quarter. Revisor Wealth Management LLC now owns 158,561 shares of the company’s stock worth $430,000 after acquiring an additional 82,081 shares during the period. Alps Advisors Inc. grew its holdings in Lithium Americas by 94.2% during the 1st quarter. Alps Advisors Inc. now owns 277,782 shares of the company’s stock worth $753,000 after acquiring an additional 134,735 shares in the last quarter. Independent Wealth Network Inc. increased its position in Lithium Americas by 6.7% during the 1st quarter. Independent Wealth Network Inc. now owns 231,432 shares of the company’s stock valued at $627,000 after purchasing an additional 14,459 shares during the period. Finally, Ping Capital Management Inc. bought a new stake in shares of Lithium Americas in the 1st quarter valued at about $27,000.

Lithium Americas Stock Performance

Shares of NYSE:LAC opened at $5.50 on Wednesday. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33. Lithium Americas has a 12 month low of $2.31 and a 12 month high of $10.52. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -23.89 and a beta of 1.43. The firm’s 50-day moving average is $5.29 and its 200 day moving average is $3.68.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Research analysts predict that Lithium Americas will post -0.12 EPS for the current 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.