Lithium Americas Corp. (NYSE:LAC) Receives $6.61 Average Price Target from Brokerages

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

Several research firms have recently weighed in on LAC. Scotiabank cut their target price on Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 15th. Piper Sandler assumed coverage on Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. National Bank Financial upgraded Lithium Americas to a “hold” rating in a report on Wednesday, June 5th. B. Riley dropped their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th.

Lithium Americas Price Performance

NYSE LAC opened at $2.66 on Tuesday. The business’s 50 day moving average price is $2.48 and its 200-day moving average price is $3.74. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $12.38.

Lithium Americas (NYSE:LAC) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, equities research analysts expect that Lithium Americas will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its holdings in shares of 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 buying an additional 1,584,123 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Lithium Americas by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock worth $112,000 after acquiring an additional 4,504 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Lithium Americas by 75.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,554 shares of the company’s stock worth $209,000 after acquiring an additional 33,900 shares in the last quarter. Merewether Investment Management LP bought a new position in shares of Lithium Americas in the 2nd quarter worth $858,000. Finally, Toronto Dominion Bank raised its position in shares of Lithium Americas by 150.1% in the 2nd quarter. Toronto Dominion Bank now owns 54,687 shares of the company’s stock worth $147,000 after acquiring an additional 32,825 shares in the last quarter.

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.