Lithium Americas Corp. (NYSE:LAC) has been given a consensus rating of “Buy” by the nine analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $20.21.
Several research analysts have recently weighed in on LAC shares. Cowen increased their price target on Lithium Americas from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, August 30th. Zacks Investment Research downgraded Lithium Americas from a “hold” rating to a “sell” rating in a research note on Wednesday, August 18th. Industrial Alliance Securities assumed coverage on Lithium Americas in a research note on Wednesday, June 23rd. They issued a “buy” rating for the company. Finally, National Bank Financial restated an “outperform spec overweight” rating on shares of Lithium Americas in a research note on Tuesday, June 29th.
Shares of LAC stock traded up $0.78 on Monday, hitting $22.31. 5,389,762 shares of the stock were exchanged, compared to its average volume of 4,642,277. The company has a current ratio of 56.73, a quick ratio of 56.73 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.68 billion, a PE ratio of -53.12 and a beta of 1.33. Lithium Americas has a one year low of $8.95 and a one year high of $28.75. The firm’s 50 day moving average is $18.28 and its two-hundred day moving average is $15.84.
Several institutional investors and hedge funds have recently modified their holdings of LAC. Van ECK Associates Corp boosted its position in shares of Lithium Americas by 41.9% during the 1st quarter. Van ECK Associates Corp now owns 1,782,268 shares of the company’s stock valued at $28,641,000 after acquiring an additional 526,445 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Lithium Americas by 3,594.5% during the 2nd quarter. Royal Bank of Canada now owns 472,492 shares of the company’s stock valued at $7,012,000 after acquiring an additional 459,703 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Lithium Americas by 1,184.6% during the 1st quarter. Millennium Management LLC now owns 394,951 shares of the company’s stock valued at $6,347,000 after buying an additional 364,207 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Lithium Americas during the 1st quarter valued at about $5,623,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Lithium Americas during the 2nd quarter valued at about $4,385,000. Hedge funds and other institutional investors own 13.55% of the company’s stock.
Lithium Americas Company Profile
Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.
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