Lithium Americas Corp. (LAC) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is mixed: Eleven firms rate Lithium Americas an average “Hold,” with seven holds, three buys, and one sell. The average 12-month price target is $5.25, including targets ranging from $3.50 to $6.00.
• Institutional investors increased their positions: Several firms, including Dimensional Fund Advisors and Teamwork Financial Advisors, added to their Lithium Americas holdings, while Credit Industriel ET Commercial initiated a new position.
• The stock remains under pressure: LAC opened at $2.21, near its 52-week low of $2.18 and well below its 52-week high of $10.52. The company reported a quarterly loss of $0.02 per share but exceeded analysts’ expected loss of $0.04.

Shares of Lithium Americas Corp. (NYSE:LAC - Get Free Report) have been given an average rating of "Hold" by the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.25.

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Lithium Americas from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. JPMorgan Chase & Co. started coverage on shares of Lithium Americas in a report on Wednesday, September 9th. They set an "overweight" rating and a $6.00 price target on the stock. BMO Capital Markets set a $3.50 price target on shares of Lithium Americas in a report on Tuesday, October 6th. The Goldman Sachs Group began coverage on shares of Lithium Americas in a research report on Wednesday, July 1st. They issued a "neutral" rating and a $4.50 price target for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Lithium Americas in a research note on Friday, July 24th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Teamwork Financial Advisors LLC raised its holdings in Lithium Americas by 3.9% during the second quarter. Teamwork Financial Advisors LLC now owns 893,395 shares of the company's stock valued at $3,440,000 after acquiring an additional 33,475 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Lithium Americas by 229.9% in the first quarter. Dimensional Fund Advisors LP now owns 565,135 shares of the company's stock valued at $2,231,000 after acquiring an additional 393,842 shares in the last quarter. Revisor Wealth Management LLC boosted its stake in shares of Lithium Americas by 7.4% in the first quarter. Revisor Wealth Management LLC now owns 393,552 shares of the company's stock worth $1,555,000 after acquiring an additional 27,134 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Lithium Americas by 11.4% in the first quarter. The Manufacturers Life Insurance Company now owns 343,290 shares of the company's stock worth $1,363,000 after acquiring an additional 35,131 shares during the period. Finally, Credit Industriel ET Commercial bought a new position in shares of Lithium Americas in the first quarter worth about $908,000.

Lithium Americas Stock Performance

Shares of LAC opened at $2.21 on Wednesday. The company has a quick ratio of 5.47, a current ratio of 5.47 and a debt-to-equity ratio of 0.81. The business has a 50-day simple moving average of $2.91 and a two-hundred day simple moving average of $3.79. The stock has a market cap of $804.13 million, a price-to-earnings ratio of -5.99 and a beta of 2.64. Lithium Americas has a 52 week low of $2.18 and a 52 week high of $10.52.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. On average, analysts expect that Lithium Americas will post -0.07 EPS for the current year.

About Lithium Americas

Lithium Americas Corp. is a lithium development company focused on advancing domestic battery-materials production in North America. Its principal asset is the Thacker Pass lithium project in Humboldt County, Nevada, one of the largest known lithium deposits in the United States. The project is designed to produce battery-grade lithium carbonate for use in electric vehicle batteries and other energy-storage applications.

Thacker Pass is being developed in phases and is expected to use a processing method intended to recover lithium from sedimentary claystone.

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