Lithium Americas Corp. (NYSE:LAC) Receives $4.15 Consensus Price Target from Analysts

Lithium Americas Corp. (NYSE:LAC) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $4.15.

A number of research firms recently issued reports on LAC. National Bank Financial downgraded shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 16th. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research report on Wednesday, August 20th. Wedbush reiterated a “neutral” rating and set a $5.00 target price on shares of Lithium Americas in a research report on Friday, May 16th. Finally, National Bankshares cut Lithium Americas from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 16th.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. grew its stake in Lithium Americas by 86.1% in the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock valued at $27,000 after acquiring an additional 4,580 shares during the period. Members Wealth LLC acquired a new stake in Lithium Americas in the first quarter valued at approximately $27,000. Cacti Asset Management LLC acquired a new stake in Lithium Americas in the first quarter valued at approximately $27,000. Ping Capital Management Inc. acquired a new stake in Lithium Americas in the first quarter valued at approximately $27,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Lithium Americas in the first quarter valued at approximately $27,000.

Lithium Americas Price Performance

Lithium Americas stock opened at $2.85 on Tuesday. The stock has a market capitalization of $688.73 million, a price-to-earnings ratio of -12.39 and a beta of 0.70. Lithium Americas has a 52-week low of $2.28 and a 52-week high of $5.20. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88. The stock’s 50 day moving average price is $2.87 and its two-hundred day moving average price is $2.81.

Lithium Americas (NYSE:LAC) last released its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). On average, equities analysts predict that Lithium Americas will post -0.12 earnings per share for the current year.

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.