Lithium Americas Corp. (NYSE:LAC – Get Rating) has been given an average rating of "Moderate Buy" by the thirteen research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $40.91.
A number of research firms have recently weighed in on LAC. Canaccord Genuity Group reduced their target price on shares of Lithium Americas from C$50.00 to C$49.00 and set a "buy" rating on the stock in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lithium Americas from $36.00 to $33.00 in a research note on Wednesday, July 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $38.00 price target on shares of Lithium Americas in a research note on Tuesday, September 20th.
Get Lithium Americas alerts:Institutional Investors Weigh In On Lithium Americas
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAC. Northern Oak Wealth Management Inc. lifted its position in shares of Lithium Americas by 169.5% in the 1st quarter. Northern Oak Wealth Management Inc. now owns 795 shares of the company's stock worth $31,000 after purchasing an additional 500 shares during the period. PNC Financial Services Group Inc. raised its stake in Lithium Americas by 725.0% in the first quarter. PNC Financial Services Group Inc. now owns 825 shares of the company's stock worth $32,000 after buying an additional 725 shares in the last quarter. Orion Capital Management LLC bought a new position in Lithium Americas in the first quarter worth approximately $35,000. Clearstead Advisors LLC purchased a new stake in Lithium Americas during the first quarter worth $38,000. Finally, Canada Pension Plan Investment Board bought a new stake in Lithium Americas during the 1st quarter valued at $42,000. Institutional investors own 23.73% of the company's stock.
Lithium Americas Price Performance
NYSE LAC opened at $26.48 on Friday. Lithium Americas has a one year low of $18.89 and a one year high of $41.56. The stock has a 50-day moving average of $28.17 and a 200 day moving average of $26.58. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -49.04 and a beta of 1.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 44.14 and a current ratio of 44.14.Lithium Americas (NYSE:LAC – Get Rating) last issued its earnings results on Thursday, July 28th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02. On average, sell-side analysts forecast that Lithium Americas will post -0.47 EPS for the current year.
Lithium Americas Company Profile
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Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.
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