Lithium Americas Corp. (NYSE:LAC) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Lithium Americas has a consensus “Hold” rating from 12 analysts: nine holds, two buys and one sell. The average 12-month price target is $5.33, above the stock’s reported $3.12 opening price.
• Several analysts recently reduced their price targets, including Scotia to $4.50 and BMO Capital Markets to $4.00, while Goldman Sachs initiated coverage with a neutral rating and a $4.50 target.
• Despite the cautious analyst outlook, some hedge funds increased or initiated positions during the second quarter. Lithium Americas also reported a quarterly loss of $0.02 per share, outperforming the consensus estimate of a $0.04 loss.

Shares of Lithium Americas Corp. (NYSE:LAC - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twelve analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.3333.

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lithium Americas in a research report on Friday, July 24th. Scotia lowered their price objective on Lithium Americas from $5.00 to $4.50 and set a "sector perform" rating for the company in a research report on Monday, May 25th. BMO Capital Markets dropped their target price on Lithium Americas from $4.50 to $4.00 and set a "market perform" rating on the stock in a research note on Friday, August 14th. The Goldman Sachs Group initiated coverage on Lithium Americas in a research report on Wednesday, July 1st. They set a "neutral" rating and a $4.50 target price on the stock. Finally, Wall Street Zen upgraded Lithium Americas from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently modified their holdings of LAC. Concurrent Investment Advisors LLC boosted its stake in Lithium Americas by 75.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 23,683 shares of the company's stock worth $91,000 after purchasing an additional 10,199 shares in the last quarter. Legacy Financial Advisors Inc. purchased a new stake in Lithium Americas during the 2nd quarter worth approximately $155,000. Headlands Technologies LLC acquired a new position in Lithium Americas during the 2nd quarter valued at approximately $248,000. Public Employees Retirement System of Ohio acquired a new position in Lithium Americas during the 2nd quarter valued at approximately $417,000. Finally, Keebeck Wealth Management purchased a new position in shares of Lithium Americas in the second quarter worth $38,000.

Lithium Americas Stock Down 0.8%

Shares of Lithium Americas stock opened at $3.12 on Tuesday. 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 company has a market cap of $1.13 billion, a P/E ratio of -8.42 and a beta of 2.58. The firm's 50 day moving average price is $3.38 and its 200-day moving average price is $4.24. Lithium Americas has a 52-week low of $2.67 and a 52-week high of $10.52.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. On average, sell-side analysts predict that Lithium Americas will post -0.11 EPS for the current fiscal year.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas' two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.

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