Shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) have been assigned a consensus rating of “Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $41.10.
A number of equities research analysts have recently issued reports on LAC shares. Zacks Investment Research raised shares of Lithium Americas from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus assumed coverage on shares of Lithium Americas in a report on Thursday, February 24th. They issued a “buy” rating on the stock. Cowen raised shares of Lithium Americas from a “market perform” rating to an “outperform” rating and increased their price target for the company from $30.00 to $40.00 in a report on Wednesday, January 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Lithium Americas from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, April 5th. Finally, HSBC started coverage on shares of Lithium Americas in a research report on Thursday, January 27th. They set a “buy” rating and a $36.00 target price on the stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. West Branch Capital LLC bought a new position in Lithium Americas during the fourth quarter valued at $29,000. TAP Consulting LLC bought a new stake in shares of Lithium Americas during the 4th quarter valued at $29,000. Stonebridge Capital Advisors LLC purchased a new stake in Lithium Americas during the 4th quarter worth about $29,000. NEXT Financial Group Inc boosted its stake in Lithium Americas by 232.8% in the 4th quarter. NEXT Financial Group Inc now owns 1,278 shares of the company’s stock worth $37,000 after purchasing an additional 894 shares during the period. Finally, Monolith Advisors purchased a new position in Lithium Americas during the 4th quarter valued at about $37,000. 15.68% of the stock is owned by institutional investors and hedge funds.
Lithium Americas (NYSE:LAC – Get Rating) last issued its quarterly earnings results on Wednesday, March 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). As a group, equities analysts predict that Lithium Americas will post 0.11 earnings per share for the current fiscal year.
Lithium Americas Company Profile (Get Rating)
Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.
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