Lithium Americas (NYSE:LAC) Price Target Raised to $5.00

Lithium Americas (NYSE:LAC) had its price target hoisted by B. Riley from $4.50 to $5.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock. B. Riley also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.13) EPS, FY2025 earnings at ($0.36) EPS and FY2026 earnings at ($0.48) EPS.

A number of other brokerages have also recently commented on LAC. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Piper Sandler initiated coverage on Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. Scotiabank lowered their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday, October 18th. Finally, BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.63.

Lithium Americas Stock Performance

Lithium Americas stock opened at $3.88 on Tuesday. The business has a 50-day simple moving average of $3.07 and a two-hundred day simple moving average of $3.08. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $7.86.

Lithium Americas (NYSE:LAC) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). On average, equities research analysts expect that Lithium Americas will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new position in shares of Lithium Americas during the 2nd quarter valued at about $520,000. Marshall Wace LLP bought a new position in Lithium Americas during the second quarter valued at approximately $10,252,000. Merewether Investment Management LP purchased a new position in Lithium Americas during the 2nd quarter valued at approximately $858,000. Point72 Asset Management L.P. increased its stake in Lithium Americas by 580.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after acquiring an additional 1,584,123 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Lithium Americas during the 1st quarter valued at approximately $202,000.

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.