Lithium Americas (NYSE:LAC) Given “Buy” Rating at Pi Financial

Lithium Americas (NYSE:LAC – Get Rating)‘s stock had its “buy” rating reiterated by research analysts at Pi Financial in a research report issued on Wednesday, The Fly reports. Pi Financial also issued estimates for Lithium Americas’ FY2022 earnings at ($0.93) EPS and FY2023 earnings at $0.11 EPS.

Several other equities analysts also recently commented on LAC. B. Riley upped their price target on shares of Lithium Americas from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. National Bank Financial cut their price objective on shares of Lithium Americas from $42.50 to $38.50 in a research report on Monday, January 16th. National Bankshares upped their price objective on shares of Lithium Americas from $38.50 to $42.50 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Piper Sandler cut their price objective on shares of Lithium Americas from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, December 15th. Finally, Evercore ISI started coverage on shares of Lithium Americas in a research report on Wednesday, November 16th. They set an “outperform” rating and a $35.00 price objective for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Lithium Americas currently has an average rating of “Buy” and an average target price of $39.00.

Lithium Americas Price Performance

LAC stock opened at $21.70 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 52.06 and a current ratio of 52.06. The company’s 50-day simple moving average is $22.40 and its 200 day simple moving average is $24.60. Lithium Americas has a 52 week low of $17.58 and a 52 week high of $40.39.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its position in Lithium Americas by 2,308.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,734 shares of the company’s stock valued at $45,000 after purchasing an additional 1,662 shares during the period. Summit Place Financial Advisors LLC grew its position in shares of Lithium Americas by 4.1% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 37,775 shares of the company’s stock worth $991,000 after buying an additional 1,500 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Lithium Americas by 26.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 124,735 shares of the company’s stock worth $3,305,000 after buying an additional 26,378 shares during the period. Sigma Planning Corp acquired a new stake in shares of Lithium Americas during the 3rd quarter worth approximately $355,000. Finally, Alpha Paradigm Partners LLC acquired a new stake in shares of Lithium Americas during the 2nd quarter worth approximately $352,000. Institutional investors and hedge funds own 21.88% of the company’s stock.

About Lithium Americas

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Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.