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

Lithium Americas Corp. (NYSE:LAC) has earned an average recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $5.51.

A number of equities analysts recently weighed in on LAC shares. Cormark raised Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. Piper Sandler decreased their target price on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Wedbush began coverage on shares of Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price target for the company. Finally, B. Riley lifted their target price on shares of 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 Performance

Shares of NYSE LAC opened at $2.75 on Friday. The company has a market capitalization of $605.78 million, a PE ratio of -22.88 and a beta of 1.68. The company’s fifty day moving average price is $3.10 and its 200 day moving average price is $3.11. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $7.71.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP lifted its stake in Lithium Americas by 99.4% in the 4th quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after purchasing an additional 4,893 shares in the last quarter. Sage Investment Counsel LLC acquired a new stake in shares of Lithium Americas in the fourth quarter valued at approximately $30,000. Mariner LLC purchased a new position in Lithium Americas during the fourth quarter worth approximately $31,000. Susquehanna Fundamental Investments LLC acquired a new position in Lithium Americas during the fourth quarter worth $34,000. Finally, Axxcess Wealth Management LLC purchased a new stake in Lithium Americas in the 4th quarter valued at $37,000.

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.