Canaccord Genuity Group Initiates Coverage on Lithium Americas (NYSE:LAC)

Research analysts at Canaccord Genuity Group started coverage on shares of Lithium Americas (NYSE:LAC) in a research report issued on Tuesday, Briefing.com reports. The firm set a “speculative buy” rating on the stock.

A number of other brokerages have also commented on LAC. Eight Capital set a $16.50 price objective on Lithium Americas and gave the stock a “buy” rating in a research report on Thursday, October 19th. Scotiabank began coverage on Lithium Americas in a research note on Thursday, October 5th. They issued a “sector outperform” rating and a $20.00 price target for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $7.00 price target (down previously from $25.00) on shares of Lithium Americas in a research note on Wednesday, October 18th. B. Riley began coverage on Lithium Americas in a research note on Monday, October 16th. They issued a “buy” rating and a $14.00 price target for the company. Finally, Stifel Nicolaus began coverage on Lithium Americas in a research note on Thursday, October 5th. They issued a “buy” rating and a $15.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.75.

Lithium Americas Trading Down 1.4 %

Shares of NYSE LAC opened at $6.61 on Tuesday. Lithium Americas has a one year low of $6.32 and a one year high of $12.38. The firm has a market capitalization of $1.06 billion, a PE ratio of -60.04 and a beta of 1.47. The company has a current ratio of 10.13, a quick ratio of 10.13 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $14.09 and a two-hundred day moving average price of $18.03.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.29. As a group, analysts predict that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RFP Financial Group LLC lifted its holdings in Lithium Americas by 654.7% in the 1st quarter. RFP Financial Group LLC now owns 1,298 shares of the company’s stock worth $28,000 after purchasing an additional 1,126 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Lithium Americas by 18.8% during the second quarter. IFP Advisors Inc now owns 5,435 shares of the company’s stock worth $29,000 after buying an additional 859 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Lithium Americas during the first quarter worth approximately $32,000. PNC Financial Services Group Inc. lifted its holdings in shares of Lithium Americas by 725.0% during the first quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after buying an additional 725 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Lithium Americas by 140.6% during the third quarter. CWM LLC now owns 2,327 shares of the company’s stock worth $40,000 after buying an additional 1,360 shares during the last quarter. 27.28% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration of lithium resource in the United States. It owns the Thacker Pass project located in Nevada. The company was incorporated in 2023 and is based in Vancouver, Canada.