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Scotiabank Keeps Their Hold Rating on Lithium Americas Corp. (LAC)
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Scotiabank Keeps Their Hold Rating on Lithium Americas Corp. (LAC)

In a report released today, Ben Isaacson from Scotiabank maintained a Hold rating on Lithium Americas Corp. (LACResearch Report), with a price target of $5.50. The company’s shares closed yesterday at $4.40.

Isaacson covers the Basic Materials sector, focusing on stocks such as Methanex, Sociedad Quimica Y Minera SA, and Albemarle. According to TipRanks, Isaacson has an average return of 8.9% and a 49.61% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lithium Americas Corp. with a $7.30 average price target, representing a 65.91% upside. In a report released on May 6, J.P. Morgan also maintained a Hold rating on the stock with a C$7.00 price target.

Based on Lithium Americas Corp.’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $1.26 billion. In comparison, last year the company had a GAAP net loss of $155.54 million

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LAC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Lithium Americas Corp. (LAC) Company Description:

Lithium Americas is a pure-play North American lithium company focused on advancing the 100%-owned Thacker Pass to production. Thacker Pass is located in northern Nevada and is the largest known Measured and Indicated (M&I) lithium resource in the U.S. The project commenced construction in early 2023 and is expected to employ over 1,000 workers during construction and create 500 permanent jobs during operations over its 40-year mine life. The company trades on both the Toronto Stock Exchange (TSX: LAC) and on the New York Stock Exchange (NYSE: LAC).

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