Lithium Americas (NYSE:LAC) Now Covered by Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Lithium Americas (NYSE:LAC) in a research note published on Thursday, Marketbeat.com reports. The brokerage issued an outperform rating and a $4.50 price objective on the stock.

Several other equities research analysts have also recently issued reports on the stock. National Bankshares reissued an “outperform” rating on shares of Lithium Americas in a research report on Wednesday, April 2nd. Scotiabank dropped their price objective on Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating on the stock in a research note on Monday, March 31st. Wedbush began coverage on Lithium Americas in a research report on Thursday, December 19th. They set a “neutral” rating and a $5.00 target price for the company. Piper Sandler cut their price target on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.75.

Lithium Americas Stock Performance

LAC opened at $2.69 on Thursday. Lithium Americas has a one year low of $2.02 and a one year high of $5.20. The stock has a market cap of $592.54 million, a price-to-earnings ratio of -22.38 and a beta of 1.01. The stock’s 50 day moving average price is $2.82 and its 200-day moving average price is $3.19.

Lithium Americas (NYSE:LAC) last released its 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, analysts predict that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

Several large investors have recently added to or reduced their stakes in LAC. Perigon Wealth Management LLC lifted its holdings in shares of Lithium Americas by 46.2% during the fourth quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock worth $47,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Lithium Americas by 21.6% in the 3rd quarter. Geode Capital Management LLC now owns 103,275 shares of the company’s stock valued at $279,000 after acquiring an additional 18,321 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Lithium Americas by 29.5% in the fourth quarter. Jones Financial Companies Lllp now owns 87,350 shares of the company’s stock worth $259,000 after acquiring an additional 19,908 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Lithium Americas during the fourth quarter worth $130,000. Finally, HB Wealth Management LLC acquired a new position in Lithium Americas during the fourth quarter valued at $55,000.

Lithium Americas Company Profile

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.