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

Shares of Lithium Americas Corp. (NYSE:LAC - Get Free Report) have been assigned an average recommendation of "Hold" from the nine analysts that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $3.88.

Several analysts recently issued reports on the company. Wedbush restated a "neutral" rating and issued a $5.00 price target on shares of Lithium Americas in a research note on Friday, May 16th. Scotiabank dropped their price objective on Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating for the company in a report on Monday, March 31st. National Bank Financial cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. National Bankshares cut 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 report on Thursday, April 17th. They issued an "outperform" rating and a $4.50 price objective for the company.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp raised its holdings in shares of Lithium Americas by 3.9% during the 4th quarter. Mackenzie Financial Corp now owns 87,701 shares of the company's stock worth $262,000 after buying an additional 3,310 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Lithium Americas by 4.4% in 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 in the last quarter. HITE Hedge Asset Management LLC increased its holdings in Lithium Americas by 0.6% in the 1st 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 4th quarter. Allworth Financial LP now owns 9,814 shares of the company's stock worth $31,000 after purchasing an additional 4,893 shares in the last quarter. Finally, Balboa Wealth Partners increased its holdings in Lithium Americas by 15.9% in the 4th quarter. Balboa Wealth Partners now owns 51,118 shares of the company's stock worth $152,000 after purchasing an additional 7,000 shares in the last quarter.

Lithium Americas Stock Performance

LAC traded up $0.02 during trading on Thursday, hitting $2.79. The stock had a trading volume of 7,046,815 shares, compared to its average volume of 5,460,394. The company has a 50 day moving average price of $2.81 and a 200-day moving average price of $2.91. The firm has a market cap of $609.64 million, a price-to-earnings ratio of -17.41 and a beta of 0.68. Lithium Americas has a one year low of $2.02 and a one year high of $5.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.35 and a quick ratio of 10.35.

Lithium Americas (NYSE:LAC - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). As a group, research analysts predict that Lithium Americas will post -0.12 EPS for the current 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.