Lithium Americas Corp. (NYSE:LAC) Receives Average Rating of “Moderate Buy” from Analysts

Lithium Americas Corp. (NYSE:LAC) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $12.18.

A number of research analysts have recently commented on the company. Scotiabank cut Lithium Americas from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $15.00 to $7.00 in a research note on Monday, March 18th. HSBC decreased their price target on Lithium Americas from $6.50 to $5.10 and set a “hold” rating for the company in a report on Friday, April 19th. JPMorgan Chase & Co. increased their price target on Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Finally, Evercore ISI reduced their target price on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, March 15th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. General Motors Holdings LLC boosted its stake in Lithium Americas by 100.0% during the 4th quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock valued at $190,829,000 after purchasing an additional 15,002,245 shares during the last quarter. Vanguard Group Inc. boosted its stake in Lithium Americas by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock valued at $60,116,000 after purchasing an additional 39,419 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Lithium Americas by 24.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock valued at $15,122,000 after purchasing an additional 461,635 shares during the last quarter. Van ECK Associates Corp boosted its stake in Lithium Americas by 22.2% during the 4th quarter. Van ECK Associates Corp now owns 2,033,397 shares of the company’s stock valued at $13,015,000 after purchasing an additional 369,879 shares during the last quarter. Finally, Aquila Investment Management LLC boosted its stake in Lithium Americas by 89.9% during the 1st quarter. Aquila Investment Management LLC now owns 600,000 shares of the company’s stock valued at $4,032,000 after purchasing an additional 284,000 shares during the last quarter.

Lithium Americas Stock Performance

NYSE LAC opened at $4.62 on Friday. The business has a fifty day moving average price of $5.78 and a two-hundred day moving average price of $6.11. Lithium Americas has a fifty-two week low of $3.81 and a fifty-two week high of $12.38.

Lithium Americas (NYSE:LAC) last released its earnings results on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). As a group, research analysts predict that Lithium Americas will post -0.14 EPS for the current fiscal year.

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.