Wedbush Issues Positive Forecast for Lithium Americas (NYSE:LAC) Stock Price

Lithium Americas (NYSE:LAC) had its price objective hoisted by Wedbush from $5.00 to $8.00 in a report issued on Wednesday,Benzinga reports. Wedbush currently has a neutral rating on the stock.

LAC has been the topic of a number of other research reports. Jefferies Financial Group dropped their price target on shares of Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. TD Cowen restated a “hold” rating and issued a $5.00 target price on shares of Lithium Americas in a research note on Thursday, September 25th. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research note on Wednesday, August 20th. Cowen cut Lithium Americas from a “buy” rating to a “hold” rating in a report on Wednesday, September 24th. Finally, TD Securities cut Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price objective for the company. in a report on Thursday, September 25th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and an average target price of $5.09.

Lithium Americas Price Performance

Shares of LAC opened at $7.05 on Wednesday. The firm has a market cap of $1.70 billion, a PE ratio of -30.63 and a beta of 1.38. The firm’s 50 day moving average price is $3.31 and its 200 day moving average price is $2.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88. Lithium Americas has a twelve month low of $2.31 and a twelve month high of $7.55.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). As a group, research analysts expect that Lithium Americas will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently modified their holdings of the business. Teamwork Financial Advisors LLC lifted its position in shares of Lithium Americas by 18.1% in the second quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock worth $2,714,000 after purchasing an additional 155,068 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Lithium Americas by 44.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after acquiring an additional 324,518 shares during the period. American Century Companies Inc. bought a new stake in Lithium Americas in the 1st quarter valued at $277,000. Ameriprise Financial Inc. increased its position in Lithium Americas by 4.4% during the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company’s stock worth $309,000 after buying an additional 4,379 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Lithium Americas during the 1st quarter worth $37,000.

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.