Lithium Americas Corp. (NYSE:LAC) Receives Average Recommendation of “Hold” from Brokerages

Lithium Americas Corp. (NYSE:LAC) has received a consensus rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $4.80.

A number of equities research analysts have weighed in on the company. Cormark raised Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. Piper Sandler dropped their price objective on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Wedbush began coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price objective for the company.

Institutional Investors Weigh In On Lithium Americas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sage Investment Counsel LLC purchased a new position in Lithium Americas in the fourth quarter worth about $30,000. Allworth Financial LP raised its holdings in Lithium Americas by 99.4% in the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after buying an additional 4,893 shares during the last quarter. Mariner LLC bought a new stake in shares of Lithium Americas in the fourth quarter worth approximately $31,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Lithium Americas in the fourth quarter worth approximately $34,000. Finally, Axxcess Wealth Management LLC bought a new stake in shares of Lithium Americas in the fourth quarter worth approximately $37,000.

Lithium Americas Stock Up 4.0 %

Shares of Lithium Americas stock opened at $3.02 on Tuesday. The stock has a market cap of $665.37 million, a PE ratio of -25.13 and a beta of 1.77. The business has a fifty day simple moving average of $3.04 and a 200-day simple moving average of $3.14. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.71.

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.