Wedbush Issues Positive Forecast for Lithium Americas (NYSE:LAC) Stock Price

Key Points

• Wedbush raised its price target for Lithium Americas (NYSE:LAC) from $5.00 to $8.00, implying a potential upside of 17.89% from the current price.
• Despite positive forecasts, analysts have mixed ratings, with three recommending a "Buy" and nine advising a "Hold" on the stock.
• Lithium Americas shares have recently experienced significant trading activity, rising by 18.8% and reaching a price of $6.79 during a trading session.

Lithium Americas (NYSE:LAC - Get Free Report) had its price target raised by analysts at Wedbush from $5.00 to $8.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Wedbush's price target would suggest a potential upside of 17.89% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group reduced their price objective on shares of Lithium Americas from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, September 24th. TD Securities cut Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 price objective for the company. in a report on Thursday, September 25th. Cormark upgraded Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. Cowen downgraded shares of Lithium Americas from a "buy" rating to a "hold" rating in a research note on Wednesday, September 24th. Finally, TD Cowen reaffirmed a "hold" rating and issued a $5.00 target price on shares of Lithium Americas in a report on Thursday, September 25th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.09.

Lithium Americas Trading Up 18.8%

Shares of LAC traded up $1.08 during trading hours on Wednesday, hitting $6.79. 68,222,611 shares of the stock traded hands, compared to its average volume of 9,925,578. The business has a fifty day moving average of $3.24 and a 200-day moving average of $2.95. The firm has a market capitalization of $1.64 billion, a PE ratio of -29.50 and a beta of 0.69. Lithium Americas has a 1-year low of $2.31 and a 1-year high of $7.55. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Analysts expect that Lithium Americas will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas

Institutional investors and hedge funds have recently modified their holdings of the business. Ping Capital Management Inc. acquired a new stake in shares of Lithium Americas in the first quarter valued at approximately $27,000. Members Wealth LLC acquired a new stake in Lithium Americas during the 1st quarter valued at approximately $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Lithium Americas during the 1st quarter valued at approximately $27,000. Harbour Investments Inc. boosted its holdings in shares of Lithium Americas by 86.1% during the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock worth $27,000 after buying an additional 4,580 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Lithium Americas during the 2nd quarter worth approximately $28,000.

Lithium Americas Company Profile

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.

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