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

Lithium Americas Corp. (NYSE:LAC) has received an average rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $5.51.

Several brokerages have recently commented on LAC. Cormark upgraded Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Piper Sandler cut their target price on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. B. Riley upped their price target on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Wedbush started coverage on shares of Lithium Americas in a report on Thursday, December 19th. They set a “neutral” rating and a $5.00 price objective on the stock.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning grew its holdings in Lithium Americas by 21.8% in the third quarter. Creative Planning now owns 33,276 shares of the company’s stock worth $90,000 after purchasing an additional 5,945 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Lithium Americas by 37.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company’s stock valued at $59,000 after purchasing an additional 5,930 shares during the last quarter. Signaturefd LLC boosted its position in shares of Lithium Americas by 1,450.5% in the 3rd quarter. Signaturefd LLC now owns 30,995 shares of the company’s stock worth $84,000 after purchasing an additional 28,996 shares in the last quarter. International Assets Investment Management LLC grew its stake in Lithium Americas by 194.1% during the 3rd quarter. International Assets Investment Management LLC now owns 33,008 shares of the company’s stock worth $89,000 after buying an additional 21,783 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in Lithium Americas during the 3rd quarter valued at about $67,000.

Lithium Americas Stock Down 1.1 %

LAC opened at $3.05 on Friday. Lithium Americas has a 52 week low of $2.02 and a 52 week high of $7.71. The company has a market capitalization of $671.99 million, a P/E ratio of -25.38 and a beta of 1.68. The stock’s fifty day moving average is $3.13 and its two-hundred day moving average is $3.09.

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.