Brokerages Set Lithium Americas Corp. (NYSE:LAC) PT at $5.44

Lithium Americas Corp. (NYSE:LAC) has been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $5.25.

A number of brokerages have recently weighed in on LAC. Wall Street Zen upgraded Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. BMO Capital Markets decreased their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Friday, August 14th. JPMorgan Chase & Co. started coverage on shares of Lithium Americas in a research note on Wednesday, September 9th. They set an “overweight” rating and a $6.00 target price for the company. The Goldman Sachs Group began coverage on shares of Lithium Americas in a report on Wednesday, July 1st. They set a “neutral” rating and a $4.50 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, July 24th.

Hedge Funds Weigh In On Lithium Americas

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its position in Lithium Americas by 212.7% during the 4th quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock valued at $13,349,000 after purchasing an additional 2,082,891 shares during the period. BNP Paribas Financial Markets increased its position in Lithium Americas by 320.7% in the fourth quarter. BNP Paribas Financial Markets now owns 1,479,668 shares of the company’s stock worth $6,451,000 after buying an additional 1,127,964 shares during the period. Reaves W H & Co. Inc. lifted its stake in Lithium Americas by 420.0% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,040,000 shares of the company’s stock valued at $4,534,000 after buying an additional 840,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Lithium Americas by 229.9% in the first 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 last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Lithium Americas during the fourth quarter valued at $1,025,000.

Lithium Americas Stock Down 3.5%

Shares of NYSE LAC opened at $2.90 on Friday. Lithium Americas has a 1 year low of $2.67 and a 1 year high of $10.52. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -7.82 and a beta of 2.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.47 and a current ratio of 5.47. The stock’s 50-day simple moving average is $3.02 and its 200-day simple moving average is $3.96.

Lithium Americas (NYSE:LAC) last issued 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. As a group, equities analysts anticipate that Lithium Americas will post -0.07 earnings per share for the current fiscal year.

Lithium Americas Company Profile

Lithium Americas Corp. (NYSE: LAC) is a North American lithium development company focused on advancing domestic sources of battery-grade lithium. Its principal asset is the Thacker Pass lithium project in Humboldt County, Nevada, which is designed to produce lithium carbonate for use in electric vehicle batteries and other energy-storage applications.

Thacker Pass is being developed in phases and is intended to support the North American battery supply chain. The project uses claystone-based resources and includes plans for mining, processing and production of lithium carbonate at an integrated site.