Lithium Americas Corp. (NYSE:LAC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Lithium Americas Corp. (NYSE:LAC) have earned an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $6.61.

LAC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. Scotiabank cut their price target on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a report on Thursday, August 15th. B. Riley cut their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Piper Sandler started coverage on shares of Lithium Americas in a report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price target for the company. Finally, National Bank Financial raised shares of Lithium Americas to a “hold” rating in a report on Wednesday, June 5th.

Lithium Americas Stock Up 1.3 %

LAC stock opened at $2.70 on Tuesday. The company has a 50-day simple moving average of $2.47 and a 200 day simple moving average of $3.69. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $12.38.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, equities research analysts predict that Lithium Americas will post -0.09 EPS for the current year.

Institutional Trading of Lithium Americas

A number of hedge funds have recently bought and sold shares of LAC. General Motors Holdings LLC lifted its stake in Lithium Americas by 100.0% during the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock valued at $190,829,000 after buying an additional 15,002,245 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Lithium Americas in the 2nd quarter valued at about $10,252,000. Van ECK Associates Corp increased its holdings in shares of Lithium Americas by 69.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock valued at $10,591,000 after purchasing an additional 1,625,149 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Lithium Americas by 580.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after purchasing an additional 1,584,123 shares during the period. Finally, Merewether Investment Management LP acquired a new position in shares of Lithium Americas in the 2nd quarter valued at about $858,000.

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.