Lithium Americas Corp. (NYSE:LAC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Lithium Americas Corp. (NYSE:LAC) have earned an average recommendation of “Hold” from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $5.3333.

A number of equities analysts have recently weighed in on LAC shares. TD Cowen reaffirmed a “hold” rating and issued a $5.00 price target on shares of Lithium Americas in a research note on Thursday, September 25th. Jefferies Financial Group dropped their target price on Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Wedbush boosted their price target on Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Finally, Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st.

Lithium Americas Stock Performance

LAC stock opened at $4.60 on Thursday. The firm has a 50 day simple moving average of $5.71 and a 200 day simple moving average of $4.18. Lithium Americas has a 52 week low of $2.31 and a 52 week high of $10.52. The stock has a market cap of $1.39 billion, a P/E ratio of -4.38 and a beta of 1.40. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. Research analysts anticipate that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lithium Americas news, VP Alexi Illya Zawadzki sold 353,914 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total value of $3,355,104.72. Following the completion of the sale, the vice president owned 40,005 shares of the company’s stock, valued at $379,247.40. The trade was a 89.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Edward Grandy sold 6,183 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $4.50, for a total value of $27,823.50. Following the sale, the senior vice president owned 135,466 shares of the company’s stock, valued at approximately $609,597. This trade represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 364,874 shares of company stock valued at $3,404,477 over the last quarter. 1.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAC. Nuveen LLC acquired a new position in Lithium Americas during the first quarter valued at approximately $504,000. American Century Companies Inc. acquired a new stake in shares of Lithium Americas in the first quarter worth $277,000. Decade Renewable Partners LP boosted its holdings in shares of Lithium Americas by 51.7% during the 1st quarter. Decade Renewable Partners LP now owns 680,100 shares of the company’s stock worth $1,843,000 after buying an additional 231,900 shares during the period. Goldman Sachs Group Inc. grew 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 buying an additional 324,518 shares during the last quarter. Finally, Teamwork Financial Advisors LLC raised its holdings in Lithium Americas by 18.1% in the 2nd quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock worth $2,714,000 after acquiring an additional 155,068 shares during the period.

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.