Shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) have received an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $40.18.
A number of research analysts have weighed in on the stock. Piper Sandler raised shares of Lithium Americas from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $41.00 in a research note on Tuesday, January 11th. Zacks Investment Research raised shares of Lithium Americas from a “sell” rating to a “hold” rating and set a $31.00 price objective on the stock in a research note on Wednesday, April 20th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lithium Americas from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, April 5th. Cowen raised shares of Lithium Americas from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $40.00 in a research note on Wednesday, January 12th. Finally, Stifel Nicolaus started coverage on shares of Lithium Americas in a research note on Thursday, February 24th. They issued a “buy” rating on the stock.
NYSE:LAC opened at $25.56 on Tuesday. The company has a current ratio of 64.51, a quick ratio of 64.51 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -79.88 and a beta of 1.25. The firm has a fifty day simple moving average of $29.53 and a two-hundred day simple moving average of $29.89. Lithium Americas has a 12 month low of $11.84 and a 12 month high of $41.56.
A number of hedge funds have recently made changes to their positions in LAC. Morgan Stanley raised its position in Lithium Americas by 12.8% in the second quarter. Morgan Stanley now owns 566,273 shares of the company’s stock worth $8,403,000 after acquiring an additional 64,452 shares during the period. SG Americas Securities LLC bought a new stake in Lithium Americas in the third quarter worth about $473,000. AE Wealth Management LLC bought a new stake in Lithium Americas in the third quarter worth about $209,000. Raymond James Financial Services Advisors Inc. raised its position in Lithium Americas by 2.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 191,873 shares of the company’s stock worth $4,285,000 after acquiring an additional 4,618 shares during the period. Finally, Advisor Group Holdings Inc. raised its position in Lithium Americas by 1.7% in the third quarter. Advisor Group Holdings Inc. now owns 63,591 shares of the company’s stock worth $1,420,000 after acquiring an additional 1,036 shares during the period. 17.87% of the stock is currently owned by institutional investors and hedge funds.
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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