Lithium Americas' (LAC) Neutral Rating Reaffirmed at Wedbush

Key Points

• Wedbush reaffirmed a Neutral rating on Lithium Americas and set an $8.00 price target, implying roughly a 65% upside from the current price.
• Analyst consensus is a Hold with a $5.71 average target; ratings are mixed (2 Buys, 8 Holds, 1 Sell), showing no clear analyst conviction.
• Lithium Americas reported an earnings miss (EPS of -$0.37 vs. -$0.04 expected), and the stock trades around $4.84 with a 52-week range of $2.47–$10.52 and a ~$1.68B market cap.

Lithium Americas (NYSE:LAC - Get Free Report)'s stock had its "neutral" rating restated by Wedbush in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $8.00 price objective on the stock. Wedbush's price target would indicate a potential upside of 65.26% from the company's current price.

Other analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Lithium Americas from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 11th. TD Securities raised shares of Lithium Americas to a "hold" rating in a research note on Monday, February 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lithium Americas in a research note on Wednesday, January 28th. Jefferies Financial Group reissued a "buy" rating on shares of Lithium Americas in a research note on Monday, February 23rd. Finally, Scotiabank lowered their price objective on shares of Lithium Americas from $7.00 to $5.00 and set a "sector perform" rating for the company in a research note on Monday, April 6th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Lithium Americas has an average rating of "Hold" and a consensus target price of $5.71.

Lithium Americas Stock Up 0.0%

Shares of NYSE LAC opened at $4.84 on Monday. Lithium Americas has a 52-week low of $2.47 and a 52-week high of $10.52. The firm has a fifty day moving average of $4.44 and a 200-day moving average of $5.23. The stock has a market capitalization of $1.68 billion, a PE ratio of -10.52 and a beta of 1.81. The company has a quick ratio of 5.16, a current ratio of 5.16 and a debt-to-equity ratio of 0.50.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.33). On average, analysts anticipate that Lithium Americas will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors have recently added to or reduced their stakes in LAC. Steward Partners Investment Advisory LLC lifted its holdings in Lithium Americas by 149.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company's stock worth $26,000 after buying an additional 3,550 shares in the last quarter. IFP Advisors Inc lifted its holdings in Lithium Americas by 1,253.3% in the 4th quarter. IFP Advisors Inc now owns 6,496 shares of the company's stock worth $28,000 after buying an additional 6,016 shares in the last quarter. Quarry LP acquired a new position in Lithium Americas in the 3rd quarter worth $28,000. Walleye Capital LLC acquired a new position in Lithium Americas in the 2nd quarter worth $28,000. Finally, IHT Wealth Management LLC acquired a new position in Lithium Americas in the 2nd quarter worth $28,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.