Lithium Americas Corp. (NYSE:LAC) Given Average Recommendation of “Hold” by Analysts

Shares of Lithium Americas Corp. (NYSE:LAC) have been assigned a consensus recommendation of “Hold” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.63.

A number of brokerages have recently issued reports on LAC. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler began coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective on the stock. B. Riley increased their target price on Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets raised Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Fairscale Capital LLC purchased a new stake in Lithium Americas during the second quarter valued at $27,000. AE Wealth Management LLC bought a new stake in shares of Lithium Americas in the 2nd quarter worth about $27,000. Evergreen Capital Management LLC purchased a new stake in shares of Lithium Americas during the 2nd quarter valued at about $27,000. Quent Capital LLC lifted its holdings in shares of Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after acquiring an additional 5,000 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Lithium Americas in the second quarter worth about $30,000.

Lithium Americas Trading Up 3.2 %

Shares of NYSE:LAC opened at $3.74 on Wednesday. Lithium Americas has a 12-month low of $2.02 and a 12-month high of $7.71. The company has a market cap of $824.24 million and a PE ratio of -31.33. The stock has a 50 day moving average of $3.16 and a 200 day moving average of $3.06.

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.