Lithium Americas Corp. (NYSE:LAC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Lithium Americas Corp. (NYSE:LACGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $11.46.

Several research analysts have weighed in on LAC shares. Scotiabank cut Lithium Americas from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $15.00 to $7.00 in a research report on Monday, March 18th. National Bank Financial raised Lithium Americas to a “hold” rating in a research report on Wednesday, June 5th. Eight Capital dropped their price target on Lithium Americas from $13.50 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. JPMorgan Chase & Co. upped their price target on Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Finally, HSBC dropped their price target on Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a research report on Friday, April 19th.

Read Our Latest Research Report on LAC

Lithium Americas Price Performance

LAC stock opened at $2.59 on Thursday. The stock’s fifty day simple moving average is $3.41 and its two-hundred day simple moving average is $4.75. Lithium Americas has a 1-year low of $2.49 and a 1-year high of $12.38.

Lithium Americas (NYSE:LACGet Free Report) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). On average, equities research analysts forecast that Lithium Americas will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Lithium Americas by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock worth $60,116,000 after acquiring an additional 39,419 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in Lithium Americas by 3.6% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 60,551 shares of the company’s stock worth $368,000 after acquiring an additional 2,126 shares during the last quarter. Virtu Financial LLC bought a new position in Lithium Americas in the 4th quarter worth about $217,000. Wealth Enhancement Advisory Services LLC increased its stake in Lithium Americas by 8.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock worth $1,627,000 after acquiring an additional 18,388 shares during the last quarter. Finally, Allworth Financial LP bought a new position in Lithium Americas in the 4th quarter worth about $37,000.

About Lithium Americas

(Get Free Report

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.

Further Reading

Analyst Recommendations for Lithium Americas (NYSE:LAC)

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