Wedbush Reiterates Neutral Rating for Lithium Americas (NYSE:LAC)

Lithium Americas (NYSE:LAC)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a note issued to investors on Friday,Benzinga reports. They presently have a $5.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 77.62% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Evercore ISI assumed coverage on Lithium Americas in a research note on Thursday, April 17th. They issued an “outperform” rating and a $4.50 price target for the company. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. National Bankshares reissued an “outperform” rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Finally, Scotiabank dropped their price objective on Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating on the stock in a research note on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.88.

Lithium Americas Price Performance

NYSE:LAC opened at $2.82 on Friday. The firm has a 50-day moving average of $2.84 and a two-hundred day moving average of $3.16. The stock has a market cap of $615.60 million, a P/E ratio of -23.46 and a beta of 0.89. Lithium Americas has a 1-year low of $2.02 and a 1-year high of $5.20.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). As a group, equities analysts expect that Lithium Americas will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Lithium Americas by 8.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,254,848 shares of the company’s stock worth $9,732,000 after buying an additional 240,418 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Lithium Americas by 44.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after purchasing an additional 324,518 shares in the last quarter. Teamwork Financial Advisors LLC lifted its stake in shares of Lithium Americas by 20.1% in the 1st quarter. Teamwork Financial Advisors LLC now owns 857,754 shares of the company’s stock valued at $2,325,000 after purchasing an additional 143,373 shares during the last quarter. Quinn Opportunity Partners LLC raised its holdings in Lithium Americas by 1,132.5% during the fourth quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company’s stock valued at $2,411,000 after buying an additional 745,777 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its stake in shares of Lithium Americas by 0.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company’s stock worth $1,994,000 after acquiring an additional 4,445 shares in the last quarter.

About Lithium Americas

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.