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

Shares of Lithium Americas Corp. (NYSE:LAC) have been assigned an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.50.

A number of analysts have recently commented on the stock. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Scotiabank reduced their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lowered their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. BMO Capital Markets raised Lithium Americas to a “hold” rating in a research note on Wednesday. Finally, B. Riley decreased their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th.

Lithium Americas Price Performance

Shares of LAC opened at $3.68 on Friday. The stock’s 50 day moving average is $2.65 and its two-hundred day moving average is $3.25. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.86.

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

Hedge Funds Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently bought and sold shares of LAC. Marshall Wace LLP purchased a new stake in shares of Lithium Americas during the 2nd quarter valued at approximately $10,252,000. Van ECK Associates Corp raised its position in Lithium Americas by 69.8% in the second quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock valued at $10,591,000 after purchasing an additional 1,625,149 shares during the period. Point72 Asset Management L.P. raised its position in Lithium Americas by 580.1% in the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after purchasing an additional 1,584,123 shares during the period. Teamwork Financial Advisors LLC lifted its stake in shares of Lithium Americas by 2,274.3% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after purchasing an additional 381,965 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new stake in shares of Lithium Americas during the 2nd quarter worth about $858,000.

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.