Lithium Americas (NYSE:LAC) Raised to “Hold” at BMO Capital Markets

BMO Capital Markets upgraded shares of Lithium Americas (NYSE:LAC) to a hold rating in a report released on Wednesday, Zacks.com reports.

Several other research analysts have also weighed in on LAC. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Scotiabank decreased their price objective on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday, October 18th. Piper Sandler initiated coverage on Lithium Americas in a report on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price for the company. Finally, B. Riley dropped their price target on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Lithium Americas currently has an average rating of “Hold” and a consensus target price of $5.50.

Lithium Americas Trading Up 7.9 %

Shares of LAC opened at $3.68 on Wednesday. The firm has a 50-day moving average price of $2.65 and a 200 day moving average price of $3.25. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $7.86.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, sell-side analysts predict that Lithium Americas will post -0.09 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in Lithium Americas by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock valued at $112,000 after buying an additional 4,504 shares during the last quarter. Cowen AND Company LLC lifted its holdings in Lithium Americas by 50.0% during the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock worth $40,000 after purchasing an additional 5,000 shares during the last quarter. Quent Capital LLC boosted its position in shares of Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after acquiring an additional 5,000 shares during the period. Vontobel Holding Ltd. raised its stake in Lithium Americas by 37.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company’s stock worth $59,000 after purchasing an additional 5,930 shares in the last quarter. Finally, Creative Planning increased its stake in Lithium Americas by 21.8% during the 3rd quarter. Creative Planning now owns 33,276 shares of the company’s stock worth $90,000 after acquiring an additional 5,945 shares during the period.

Lithium Americas Company Profile

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.