Lithium Americas Corp. (NYSE:LAC) Receives $3.88 Consensus Target Price from Analysts

Shares of Lithium Americas Corp. (NYSE:LAC - Get Free Report) have been given a consensus rating of "Hold" by the nine research firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $3.88.

LAC has been the subject of a number of recent analyst reports. Scotiabank cut their price objective on Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating for the company in a research report on Monday, March 31st. Evercore ISI initiated coverage on shares of Lithium Americas in a research note on Thursday, April 17th. They set an "outperform" rating and a $4.50 target price for the company. National Bank Financial cut shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. National Bankshares downgraded shares of Lithium Americas from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 16th. Finally, Wedbush restated a "neutral" rating and set a $5.00 price target on shares of Lithium Americas in a research report on Friday, May 16th.

Lithium Americas Price Performance

Shares of NYSE LAC traded up $0.03 during mid-day trading on Thursday, reaching $2.80. The company's stock had a trading volume of 2,295,482 shares, compared to its average volume of 5,434,441. Lithium Americas has a 1-year low of $2.02 and a 1-year high of $5.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.35 and a current ratio of 10.35. The stock has a market capitalization of $611.83 million, a P/E ratio of -17.47 and a beta of 0.67. The stock has a 50-day moving average of $2.81 and a two-hundred day moving average of $2.92.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). On average, equities research analysts anticipate that Lithium Americas will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently made changes to their positions in LAC. Mackenzie Financial Corp lifted its stake in Lithium Americas by 3.9% in the fourth quarter. Mackenzie Financial Corp now owns 87,701 shares of the company's stock worth $262,000 after acquiring an additional 3,310 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Lithium Americas by 4.4% during the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company's stock worth $309,000 after purchasing an additional 4,379 shares during the last quarter. HITE Hedge Asset Management LLC grew its stake in shares of Lithium Americas by 0.6% during the first quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company's stock worth $1,994,000 after purchasing an additional 4,445 shares in the last quarter. Allworth Financial LP increased its holdings in Lithium Americas by 99.4% in the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company's stock valued at $31,000 after buying an additional 4,893 shares during the last quarter. Finally, Balboa Wealth Partners raised its stake in Lithium Americas by 15.9% in the fourth quarter. Balboa Wealth Partners now owns 51,118 shares of the company's stock valued at $152,000 after buying an additional 7,000 shares in the last quarter.

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.