Analysts Set Lithium Americas Corp. (NYSE:LAC) Target Price at $20.21

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.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Wednesday, August 4th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). On average, sell-side analysts expect that Lithium Americas will post -0.39 earnings per share for the current year.

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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Analyst Recommendations for Lithium Americas (NYSE:LAC)

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