Lithium Americas Corp. (NYSE:LAC) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Lithium Americas Corp. (NYSE:LAC) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $5.25.

Several equities analysts have commented on LAC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, July 24th. JPMorgan Chase & Co. began coverage on Lithium Americas in a research note on Wednesday, September 9th. They issued an “overweight” rating and a $6.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Lithium Americas in a report on Wednesday, July 1st. They set a “neutral” rating and a $4.50 target price on the stock. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, BMO Capital Markets set a $3.50 price objective on shares of Lithium Americas in a research note on Tuesday, October 6th.

Institutional Trading of Lithium Americas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Main Street Group LTD bought a new position in shares of Lithium Americas in the 1st quarter worth $26,000. Keebeck Wealth Management bought a new position in Lithium Americas in the 2nd quarter valued at about $38,000. Aurora Private Wealth Inc. acquired a new position in Lithium Americas during the 1st quarter valued at about $41,000. Western Wealth Management LLC bought a new stake in Lithium Americas during the 1st quarter worth approximately $45,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of Lithium Americas during the first quarter valued at approximately $46,000.

Lithium Americas Trading Up 0.2%

Shares of Lithium Americas stock opened at $2.15 on Wednesday. Lithium Americas has a twelve month low of $2.04 and a twelve month high of $7.25. The company has a current ratio of 5.47, a quick ratio of 5.47 and a debt-to-equity ratio of 0.81. The company has a 50-day simple moving average of $2.81 and a two-hundred day simple moving average of $3.73.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, August 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Equities research analysts predict that Lithium Americas will post -0.07 EPS for the current year.

About Lithium Americas

Lithium Americas Corp. is a lithium development company focused on advancing domestic battery-materials production in North America. Its principal asset is the Thacker Pass lithium project in Humboldt County, Nevada, one of the largest known lithium deposits in the United States. The project is designed to produce battery-grade lithium carbonate for use in electric vehicle batteries and other energy-storage applications.

Thacker Pass is being developed in phases and is expected to use a processing method intended to recover lithium from sedimentary claystone.