Analysts Set Lithium Americas Corp. (NYSE:LAC) PT at $5.71

Lithium Americas Corp. (NYSE:LAC) has received an average rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.7143.

LAC has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Wedbush initiated coverage on shares of Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Lithium Americas in a report on Monday, February 23rd. TD Securities raised shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. Finally, Scotiabank cut their price target on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a report on Monday, April 6th.

Lithium Americas Stock Performance

Shares of LAC stock opened at $4.63 on Friday. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -11.30 and a beta of 2.50. The company’s 50 day moving average is $4.62 and its 200 day moving average is $4.91. The company has a quick ratio of 5.16, a current ratio of 7.36 and a debt-to-equity ratio of 0.65. Lithium Americas has a 52-week low of $2.47 and a 52-week high of $10.52.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.07. On average, sell-side analysts anticipate that Lithium Americas will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Main Street Group LTD acquired a new position in Lithium Americas during the first quarter valued at $26,000. Steward Partners Investment Advisory LLC lifted its position in Lithium Americas by 149.2% during the fourth 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 during the period. IFP Advisors Inc lifted its position in Lithium Americas by 1,253.3% during the fourth 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 during the period. Quarry LP acquired a new position in Lithium Americas during the third quarter valued at $28,000. Finally, Walleye Capital LLC acquired a new position in Lithium Americas during the second quarter valued at $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.