Lithium Americas Corp. (NYSE:LAC) Receives $5.63 Average Target Price from Brokerages

Lithium Americas Corp. (NYSE:LAC - Get Free Report) has been assigned an average recommendation of "Hold" from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $5.63.

Several equities analysts recently weighed in on LAC shares. Scotiabank reduced their target price on Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating on the stock in a research report on Friday, October 18th. B. Riley increased their target price on Lithium Americas from $4.50 to $5.00 and gave the stock a "buy" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their target price on Lithium Americas from $3.00 to $2.50 and set a "hold" rating on the stock in a research report on Friday, August 16th. National Bank Financial upgraded Lithium Americas from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets upgraded Lithium Americas to a "hold" rating in a research report on Wednesday, October 23rd.

Institutional Investors Weigh In On Lithium Americas

A number of large investors have recently modified their holdings of LAC. Renaissance Technologies LLC acquired a new stake in Lithium Americas during the 2nd quarter valued at approximately $520,000. Marshall Wace LLP acquired a new stake in Lithium Americas during the 2nd quarter valued at approximately $10,252,000. Merewether Investment Management LP acquired a new stake in Lithium Americas during the 2nd quarter valued at approximately $858,000. Point72 Asset Management L.P. grew its stake in Lithium Americas by 580.1% during 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 in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Lithium Americas during the 1st quarter valued at approximately $202,000.

Lithium Americas Stock Up 3.3 %

Shares of LAC traded up $0.13 during trading hours on Wednesday, reaching $4.23. 13,581,766 shares of the company traded hands, compared to its average volume of 5,390,107. The stock has a market capitalization of $932.33 million and a PE ratio of -36.75. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $7.86. The stock has a fifty day simple moving average of $3.03 and a 200 day simple moving average of $3.07.

Lithium Americas (NYSE:LAC - Get Free Report) last posted 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). Research analysts predict that Lithium Americas will post -0.1 EPS for the current fiscal year.

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.