Brokerages Set Lithium Americas Corp. (NYSE:LAC) Target Price at $5.51

Lithium Americas Corp. (NYSE:LAC - Get Free Report) has earned a consensus rating of "Hold" from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.51.

A number of research firms recently issued reports on LAC. Cormark upgraded Lithium Americas to a "moderate buy" rating in a research report on Friday, January 17th. National Bank Financial upgraded shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 17th. Piper Sandler decreased their target price on shares of Lithium Americas from $3.90 to $3.50 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Scotiabank cut their price target on Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating on the stock in a report on Friday, October 18th. Finally, B. Riley raised their target price on Lithium Americas from $4.50 to $5.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th.

Lithium Americas Stock Down 2.7 %

Shares of NYSE:LAC traded down $0.09 on Monday, reaching $3.07. 4,969,439 shares of the company's stock were exchanged, compared to its average volume of 5,214,505. The business's 50-day moving average is $3.40 and its two-hundred day moving average is $3.06. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $7.71. The firm has a market capitalization of $676.38 million, a price-to-earnings ratio of -25.54 and a beta of 1.67.

Institutional Investors Weigh In On Lithium Americas

Institutional investors and hedge funds have recently modified their holdings of the stock. Quent Capital LLC raised its stake in Lithium Americas by 100.0% during the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company's stock valued at $27,000 after purchasing an additional 5,000 shares during the period. Evergreen Capital Management LLC purchased a new stake in shares of Lithium Americas in the second quarter worth approximately $27,000. AE Wealth Management LLC acquired a new stake in shares of Lithium Americas during the second quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC purchased a new position in Lithium Americas during the second quarter valued at approximately $32,000. Finally, Creative Financial Designs Inc. ADV lifted its position in Lithium Americas by 39.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company's stock worth $35,000 after buying an additional 3,693 shares in the last quarter.

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.