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

Key Points

• Lithium Americas received a consensus “Hold” rating from 12 brokerages: nine holds, two buys and one sell. The average 12-month price target is $5.44.
• Recent analyst views were mixed but generally neutral, with price targets ranging from $4.50 to $8.00; Scotiabank lowered its target to $4.50, while Wedbush initiated coverage at $8.00.
• The stock opened at $2.90, with a market capitalization of approximately $1.02 billion and a 52-week range of $2.47 to $10.52. Several hedge funds recently increased their positions in the company.

Lithium Americas Corp. (NYSE:LAC - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twelve brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $5.4444.

A number of equities analysts have recently issued reports on the company. Wedbush started coverage on Lithium Americas in a research report on Monday, April 20th. They set a "neutral" rating and a $8.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Lithium Americas in a research report on Friday, July 24th. Scotiabank dropped their target price on Lithium Americas from $7.00 to $5.00 and set a "sector perform" rating on the stock in a research note on Monday, April 6th. Scotia dropped their target price on Lithium Americas from $5.00 to $4.50 and set a "sector perform" rating on the stock in a research note on Monday, May 25th. Finally, The Goldman Sachs Group began 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.

Lithium Americas Trading Up 7.2%

NYSE:LAC opened at $2.90 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -7.09 and a beta of 2.47. Lithium Americas has a 52 week low of $2.47 and a 52 week high of $10.52. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $3.98 and a 200 day moving average of $4.55.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently modified their holdings of LAC. Lido Advisors LLC raised its position in shares of Lithium Americas by 15.1% during the 3rd quarter. Lido Advisors LLC now owns 16,643 shares of the company's stock worth $95,000 after purchasing an additional 2,183 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Lithium Americas by 16.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company's stock worth $96,000 after buying an additional 2,321 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Lithium Americas by 3.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 67,650 shares of the company's stock worth $394,000 after buying an additional 2,356 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Lithium Americas by 0.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company's stock worth $1,405,000 after buying an additional 2,491 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Lithium Americas by 6.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 43,277 shares of the company's stock worth $171,000 after buying an additional 2,539 shares in the last quarter.

About Lithium Americas

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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