Lithium Americas Corp. (NYSE:LAC) Given Average Rating of “Moderate Buy” by Brokerages

Lithium Americas Corp. (NYSE:LAC) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $6.61.

A number of brokerages have issued reports on LAC. National Bank Financial upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, June 5th. Piper Sandler started coverage on Lithium Americas in a report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price target for the company. B. Riley cut 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. Deutsche Bank Aktiengesellschaft cut their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. Finally, Scotiabank cut their target price on Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a research note on Thursday, August 15th.

Institutional Investors Weigh In On Lithium Americas

Institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in Lithium Americas in the 1st quarter valued at approximately $25,000. Mather Group LLC. acquired a new stake in shares of Lithium Americas during the 1st quarter worth $26,000. Quent Capital LLC acquired a new stake in shares of Lithium Americas during the 1st quarter worth $48,000. Headlands Technologies LLC increased its holdings in Lithium Americas by 2,332.3% in the 1st quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock valued at $52,000 after purchasing an additional 7,370 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new stake in Lithium Americas in the 2nd quarter valued at $27,000.

Lithium Americas Stock Up 1.1 %

Shares of NYSE:LAC opened at $2.32 on Tuesday. The business’s 50-day moving average is $2.51 and its 200 day moving average is $3.80. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $12.38.

Lithium Americas (NYSE:LAC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, equities research analysts predict that Lithium Americas will post -0.1 EPS 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.