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

Lithium Americas Corp. (NYSE:LAC - Get Free Report) has received a consensus recommendation of "Hold" from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $3.88.

A number of equities analysts have recently issued reports on the stock. Scotiabank cut their price objective on shares of Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating on the stock in a research report on Monday, March 31st. National Bank Financial downgraded Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. Wedbush reiterated a "neutral" rating and issued a $5.00 price target on shares of Lithium Americas in a report on Friday, May 16th. National Bankshares downgraded Lithium Americas from an "outperform" rating to a "sector perform" rating in a report on Friday, May 16th. Finally, Evercore ISI initiated coverage on Lithium Americas in a research report on Thursday, April 17th. They set an "outperform" rating and a $4.50 target price on the stock.

Institutional Trading of Lithium Americas

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quinn Opportunity Partners LLC grew its holdings in Lithium Americas by 1,132.5% during the fourth quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company's stock worth $2,411,000 after buying an additional 745,777 shares in the last quarter. Decade Renewable Partners LP bought a new stake in shares of Lithium Americas in the 4th quarter worth $1,331,000. HITE Hedge Asset Management LLC grew its stake in shares of Lithium Americas by 150.9% in the 4th quarter. HITE Hedge Asset Management LLC now owns 731,473 shares of the company's stock worth $2,172,000 after acquiring an additional 439,974 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Lithium Americas by 44.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company's stock valued at $2,836,000 after purchasing an additional 324,518 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Lithium Americas by 8.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,254,848 shares of the company's stock valued at $9,732,000 after purchasing an additional 240,418 shares in the last quarter.

Lithium Americas Stock Down 2.5%

LAC traded down $0.07 during trading on Friday, hitting $2.68. The company's stock had a trading volume of 4,302,505 shares, compared to its average volume of 5,466,080. The firm has a market capitalization of $586.67 million, a P/E ratio of -22.33 and a beta of 0.89. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $5.20. The stock's fifty day moving average price is $2.80 and its 200-day moving average price is $3.07.

Lithium Americas (NYSE:LAC - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). Equities research analysts expect that Lithium Americas will post -0.12 EPS for the current fiscal year.

About Lithium Americas

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.