Lithium Americas (NYSE:LAC) Coverage Initiated by Analysts at Evercore ISI

Equities researchers at Evercore ISI began coverage on shares of Lithium Americas (NYSE:LAC) in a report released on Thursday. The firm set an “outperform” rating and a $4.50 price target on the stock. Evercore ISI’s target price points to a potential upside of 66.98% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wedbush started coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They set a “neutral” rating and a $5.00 price target on the stock. Piper Sandler dropped their price objective on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Cormark raised Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. National Bankshares reissued an “outperform” rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Finally, Scotiabank lowered their target price on shares of Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating on the stock in a report on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Lithium Americas has a consensus rating of “Hold” and a consensus target price of $4.79.

Lithium Americas Price Performance

Shares of Lithium Americas stock traded down $0.01 during trading on Thursday, hitting $2.70. 287,438 shares of the company’s stock traded hands, compared to its average volume of 5,695,791. The company has a market cap of $594.75 million, a PE ratio of -22.46 and a beta of 1.01. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $6.82. The firm’s fifty day moving average price is $2.83 and its 200 day moving average price is $3.19.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Friday, March 28th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). As a group, equities research analysts anticipate that Lithium Americas will post -0.12 earnings per share for the current year.

Institutional Trading of Lithium Americas

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Lithium Americas by 99.4% during the 4th quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after acquiring an additional 4,893 shares during the last quarter. Sage Investment Counsel LLC acquired a new stake in shares of Lithium Americas during the 4th quarter worth approximately $30,000. Cacti Asset Management LLC acquired a new stake in Lithium Americas in the first quarter worth $27,000. Members Wealth LLC acquired a new position in shares of Lithium Americas during the first quarter valued at about $27,000. Finally, Mariner LLC bought a new position in shares of Lithium Americas during the 4th quarter worth about $31,000.

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.