Brokerages Set Lithium Americas Corp. (NYSE:LAC) Price Target at $6.61

Shares of Lithium Americas Corp. (NYSE:LAC) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $6.61.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LAC. Jump Financial LLC bought a new position in Lithium Americas in the fourth quarter worth $71,000. Vanguard Personalized Indexing Management LLC bought a new position in Lithium Americas in the fourth quarter worth $66,000. Scotia Capital Inc. raised its stake in Lithium Americas by 17.5% during the fourth quarter. Scotia Capital Inc. now owns 442,641 shares of the company’s stock worth $2,826,000 after acquiring an additional 66,032 shares in the last quarter. ROI Financial Advisors LLC acquired a new position in Lithium Americas during the fourth quarter worth $252,000. Finally, General Motors Holdings LLC raised 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 worth $190,829,000 after acquiring an additional 15,002,245 shares in the last quarter.

Lithium Americas Stock Performance

NYSE:LAC opened at $2.70 on Tuesday. The stock’s 50 day moving average price is $2.47 and its 200 day moving average price is $3.69. Lithium Americas has a 52 week low of $2.02 and a 52 week high of $12.38.

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

Lithium Americas Company Profile

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.