Lithium Americas Corp. (NYSE:LAC) Receives $5.63 Average Price Target from Brokerages

Lithium Americas Corp. (NYSE:LAC) has been given a consensus recommendation of “Hold” by the ten analysts that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $5.63.

LAC has been the topic of several recent research reports. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Piper Sandler assumed coverage on Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. B. Riley upped their price objective on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Tuesday. Scotiabank cut their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in Lithium Americas during the 2nd quarter valued at approximately $520,000. Marshall Wace LLP purchased a new stake in shares of Lithium Americas during the 2nd quarter worth about $10,252,000. Merewether Investment Management LP acquired a new stake in shares of Lithium Americas in the 2nd quarter valued at $858,000. Point72 Asset Management L.P. lifted its holdings in Lithium Americas by 580.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after purchasing an additional 1,584,123 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Lithium Americas during the first quarter worth approximately $202,000.

Lithium Americas Price Performance

Shares of Lithium Americas stock opened at $3.73 on Wednesday. The company’s 50 day moving average price is $3.10 and its two-hundred day moving average price is $3.09. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $7.71. The firm has a market capitalization of $823.10 million and a P/E ratio of -30.25.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). On average, analysts expect that Lithium Americas will post -0.1 earnings per share 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.