Lithium Americas Corp. (NYSE:LAC) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst consensus: Eleven analysts give LAC a consensus "Hold" (1 sell, 8 hold, 2 buy) with an average 12‑month target price of $5.71.
• Recent performance and fundamentals: LAC opened at $4.74 (down 4.9%), has a 12‑month range of $2.47–$10.52 and a $1.64B market cap, and reported a quarterly EPS loss of ($0.37) versus ($0.04) expected.
• Institutional moves: VanEck increased its position by 158% to 14.48 million shares and several other funds have initiated or boosted stakes, indicating rising hedge fund interest.

Shares of Lithium Americas Corp. (NYSE:LAC - Get Free Report) have earned a consensus recommendation of "Hold" from the eleven ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $5.7143.

A number of research firms have weighed in on LAC. TD Securities upgraded shares of Lithium Americas to a "hold" rating in a research report on Monday, February 9th. Scotiabank dropped their price target on shares of Lithium Americas from $7.00 to $5.00 and set a "sector perform" rating for the company in a research report on Monday, April 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lithium Americas in a research report on Wednesday, January 28th. Wedbush began coverage on shares of Lithium Americas in a research report on Monday. They issued a "neutral" rating and a $8.00 price target for the company. Finally, Wall Street Zen upgraded shares of Lithium Americas from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 11th.

Hedge Funds Weigh In On Lithium Americas

A number of hedge funds have recently modified their holdings of LAC. Van ECK Associates Corp boosted its position in shares of Lithium Americas by 158.1% during the third quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company's stock worth $82,679,000 after acquiring an additional 8,868,971 shares during the last quarter. Old West Investment Management LLC bought a new position in shares of Lithium Americas during the third quarter worth $7,647,000. Revisor Wealth Management LLC boosted its position in shares of Lithium Americas by 123.7% during the fourth quarter. Revisor Wealth Management LLC now owns 366,418 shares of the company's stock worth $1,598,000 after acquiring an additional 202,594 shares during the last quarter. Reaves W H & Co. Inc. bought a new position in shares of Lithium Americas during the third quarter worth $1,142,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Lithium Americas during the third quarter worth $129,000.

Lithium Americas Stock Down 4.9%

Shares of LAC stock opened at $4.74 on Wednesday. Lithium Americas has a 12 month low of $2.47 and a 12 month high of $10.52. The stock has a market cap of $1.64 billion, a P/E ratio of -10.29 and a beta of 1.81. The company has a current ratio of 5.16, a quick ratio of 5.16 and a debt-to-equity ratio of 0.50. The company has a 50 day simple moving average of $4.44 and a two-hundred day simple moving average of $5.18.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.33). On average, research analysts expect that Lithium Americas will post -0.3 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.