Lithium Americas Corp. (NYSE:LAC) Receives $5.33 Average Target Price from Analysts

Shares of Lithium Americas Corp. (NYSE:LAC) have earned an average rating of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.3333.

Several analysts have weighed in on LAC shares. The Goldman Sachs Group assumed coverage on shares of Lithium Americas in a research report on Wednesday, July 1st. They set a “neutral” rating and a $4.50 target price on the stock. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Scotia dropped their price objective on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a report on Monday, May 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, July 24th. Finally, BMO Capital Markets reduced their target price on Lithium Americas from $4.50 to $4.00 and set a “market perform” rating for the company in a research note on Friday, August 14th.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Lithium Americas by 229.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 565,135 shares of the company’s stock valued at $2,231,000 after buying an additional 393,842 shares during the period. Kailix Advisors LLC acquired a new stake in Lithium Americas during the fourth quarter worth about $5,123,000. Firetrail Investments PTY Ltd. acquired a new stake in Lithium Americas during the second quarter worth about $17,542,000. Credit Industriel ET Commercial acquired a new stake in Lithium Americas during the first quarter worth about $908,000. Finally, Legal & General Group Plc raised its position in Lithium Americas by 212.7% during the fourth quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock valued at $13,349,000 after acquiring an additional 2,082,891 shares in the last quarter.

Lithium Americas Stock Down 1.1%

Lithium Americas stock opened at $3.17 on Tuesday. Lithium Americas has a 1-year low of $2.67 and a 1-year high of $10.52. The business has a fifty day moving average price of $3.31 and a 200-day moving average price of $4.21. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.47 and a quick ratio of 5.47. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -8.58 and a beta of 2.57.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Equities research analysts forecast that Lithium Americas will post -0.11 EPS for the current fiscal year.

About Lithium Americas

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.