Lithium Americas Corp. (NYSE:LAC) Given Consensus Rating of “Hold” by Analysts

Lithium Americas Corp. (NYSE:LAC) has earned an average rating of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $5.5625.

Several analysts recently weighed in on LAC shares. BMO Capital Markets lifted their price target on Lithium Americas from $3.50 to $5.00 and gave the stock a “market perform” rating in a report on Thursday, October 2nd. TD Cowen reissued a “hold” rating and set a $5.00 target price on shares of Lithium Americas in a report on Thursday, September 25th. Wedbush upped their price target on shares of Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Cowen cut shares of Lithium Americas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, JPMorgan Chase & Co. raised shares of Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Thursday, November 6th.

Lithium Americas Stock Performance

NYSE LAC opened at $5.39 on Monday. The stock has a market cap of $1.63 billion, a PE ratio of -5.13 and a beta of 1.57. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77. The firm has a 50-day moving average of $4.96 and a 200-day moving average of $4.45. Lithium Americas has a 52-week low of $2.31 and a 52-week high of $10.52.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results 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. On average, sell-side analysts anticipate that Lithium Americas will post -0.12 EPS for the current year.

Insider Activity

In related news, SVP Edward Grandy sold 6,183 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $4.50, for a total transaction of $27,823.50. Following the sale, the senior vice president owned 135,466 shares of the company’s stock, valued at $609,597. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 10,960 shares of company stock valued at $49,372 in the last three months. Insiders own 1.11% of the company’s stock.

Institutional Trading of Lithium Americas

Several large investors have recently modified their holdings of LAC. Wealth Enhancement Advisory Services LLC increased its position in shares of Lithium Americas by 0.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company’s stock worth $1,405,000 after purchasing an additional 2,491 shares during the period. Occidental Asset Management LLC acquired a new stake in Lithium Americas during the fourth quarter worth about $148,000. Tudor Investment Corp ET AL bought a new position in Lithium Americas in the 3rd quarter valued at about $120,000. Second Line Capital LLC acquired a new position in shares of Lithium Americas in the 3rd quarter valued at approximately $116,000. Finally, PharVision Advisers LLC bought a new stake in shares of Lithium Americas during the 3rd quarter worth approximately $169,000.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.