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

Key Points

• The consensus recommendation for Lithium Americas Corp. (NYSE:LAC) is "Hold," with seven analysts suggesting hold and two recommending to buy.
• The average 12-month price target among brokers is $3.8750, while the stock's current price opened at $2.86.
• Recent earnings data shows a loss of ($0.06) earnings per share, missing the consensus estimate of ($0.04).

Lithium Americas Corp. (NYSE:LAC - Get Free Report) has been given an average recommendation of "Hold" by the eight research firms that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $4.15.

Several equities analysts have recently weighed in on the stock. National Bankshares lowered shares of Lithium Americas from an "outperform" rating to a "sector perform" rating in a report on Friday, May 16th. Wedbush reaffirmed a "neutral" rating and issued a $5.00 price objective on shares of Lithium Americas in a report on Friday, May 16th. Finally, National Bank Financial downgraded shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th.

Institutional Trading of Lithium Americas

Institutional investors and hedge funds have recently modified their holdings of the stock. Cacti Asset Management LLC purchased a new position in Lithium Americas in the 1st quarter valued at about $27,000. Members Wealth LLC acquired a new position in shares of Lithium Americas during the first quarter valued at approximately $27,000. Ping Capital Management Inc. purchased a new position in shares of Lithium Americas in the first quarter valued at approximately $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Lithium Americas in the first quarter worth approximately $27,000. Finally, Harbour Investments Inc. increased its position in shares of Lithium Americas by 86.1% during the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock worth $27,000 after purchasing an additional 4,580 shares in the last quarter.

Lithium Americas Stock Performance

Shares of LAC stock traded down $0.11 on Friday, hitting $2.83. The company had a trading volume of 1,603,868 shares, compared to its average volume of 5,593,459. Lithium Americas has a twelve month low of $2.11 and a twelve month high of $5.20. The company has a quick ratio of 10.35, a current ratio of 10.35 and a debt-to-equity ratio of 0.02. The firm has a market cap of $618.39 million, a P/E ratio of -12.28 and a beta of 0.68. The company has a 50-day moving average price of $2.80 and a 200-day moving average price of $2.83.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). As a group, equities research analysts predict that Lithium Americas will post -0.12 earnings per share 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.