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

Shares of Lithium Americas Corp. (NYSE:LAC) have been assigned a consensus recommendation of “Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $41.00.

Several brokerages have recently issued reports on LAC. JPMorgan Chase & Co. boosted their price target on shares of Lithium Americas from $28.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 19th. National Bankshares boosted their price target on shares of Lithium Americas from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, November 18th. TD Securities boosted their price target on shares of Lithium Americas from C$36.00 to C$45.00 and gave the company a “hold” rating in a report on Thursday, November 18th. Piper Sandler raised shares of Lithium Americas from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $41.00 in a research report on Tuesday, January 11th. Finally, boosted their price objective on shares of Lithium Americas from C$35.00 to C$46.00 and gave the company a “buy” rating in a research report on Thursday, November 18th.

LAC opened at $25.06 on Friday. The company has a fifty day moving average price of $31.67 and a two-hundred day moving average price of $24.57. The company has a debt-to-equity ratio of 0.33, a quick ratio of 57.43 and a current ratio of 57.43. Lithium Americas has a 52 week low of $11.84 and a 52 week high of $41.56. The firm has a market capitalization of $3.01 billion, a PE ratio of -51.14 and a beta of 1.18.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Monday, November 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). Equities analysts forecast that Lithium Americas will post -0.5 EPS for the current year.

A number of large investors have recently modified their holdings of LAC. Northern Oak Wealth Management Inc. lifted its position in Lithium Americas by 335.7% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 2,135 shares of the company’s stock worth $32,000 after buying an additional 1,645 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Lithium Americas in the 2nd quarter valued at about $33,000. US Bancorp DE raised its holdings in shares of Lithium Americas by 81.0% in the 3rd quarter. US Bancorp DE now owns 1,810 shares of the company’s stock valued at $41,000 after purchasing an additional 810 shares during the period. Retirement Group LLC raised its holdings in shares of Lithium Americas by 222.2% in the 3rd quarter. Retirement Group LLC now owns 2,900 shares of the company’s stock valued at $65,000 after purchasing an additional 2,000 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Lithium Americas by 78.8% in the 2nd quarter. Legal & General Group Plc now owns 5,756 shares of the company’s stock valued at $86,000 after purchasing an additional 2,536 shares during the period. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

About Lithium Americas

Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.

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Author: ETF Daily News Team