Evercore ISI Initiates Coverage on Lithium Americas (NYSE:LAC)

Evercore ISI began coverage on shares of Lithium Americas (NYSE:LAC - Free Report) in a report released on Thursday, Marketbeat.com reports. The brokerage issued an outperform rating and a $4.50 target price on the stock.

Other analysts also recently issued reports about the company. Piper Sandler cut their target price on Lithium Americas from $3.90 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Scotiabank decreased their target price on shares of Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating on the stock in a report on Monday, March 31st. Wedbush began coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They set a "neutral" rating and a $5.00 price target on the stock. Cormark raised Lithium Americas to a "moderate buy" rating in a research note on Friday, January 17th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Lithium Americas in a research report on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Lithium Americas has an average rating of "Moderate Buy" and an average target price of $4.75.

Lithium Americas Stock Up 0.6 %

Shares of Lithium Americas stock traded up $0.02 during trading hours on Thursday, reaching $2.70. 2,568,234 shares of the company's stock were exchanged, compared to its average volume of 5,579,215. The business has a fifty day moving average of $2.81 and a two-hundred day moving average of $3.20. The company has a market capitalization of $594.75 million, a P/E ratio of -22.46 and a beta of 1.01. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $5.20.

Lithium Americas (NYSE:LAC - Get Free Report) last released its earnings results on Friday, March 28th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). As a group, research analysts predict that Lithium Americas will post -0.12 EPS for the current year.

Institutional Trading of Lithium Americas

Hedge funds and other institutional investors have recently bought and sold shares of the business. Perigon Wealth Management LLC raised its position in shares of Lithium Americas by 46.2% during the 4th quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company's stock worth $47,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lithium Americas by 21.6% during the 3rd quarter. Geode Capital Management LLC now owns 103,275 shares of the company's stock worth $279,000 after buying an additional 18,321 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Lithium Americas by 29.5% in the 4th quarter. Jones Financial Companies Lllp now owns 87,350 shares of the company's stock valued at $259,000 after buying an additional 19,908 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Lithium Americas during the 4th quarter worth $130,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Lithium Americas in the 4th quarter valued at about $55,000.

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.