Lithium Americas (NYSE:LAC) Stock Rating Upgraded by BMO Capital Markets

Lithium Americas (NYSE:LAC) was upgraded by research analysts at BMO Capital Markets to a “hold” rating in a report released on Wednesday, Zacks.com reports.

Several other research firms have also recently issued reports on LAC. Piper Sandler initiated coverage on shares of Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price for the company. Scotiabank decreased their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft cut their price target 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. B. Riley reduced their price target on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.50.

Lithium Americas Stock Up 2.6 %

Shares of LAC opened at $3.50 on Wednesday. The business’s 50-day moving average is $2.61 and its two-hundred day moving average is $3.27. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $7.86.

Lithium Americas (NYSE:LAC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, analysts anticipate that Lithium Americas will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hedges Asset Management LLC boosted its holdings in Lithium Americas by 100.0% in the 3rd quarter. Hedges Asset Management LLC now owns 50,000 shares of the company’s stock valued at $135,000 after purchasing an additional 25,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Lithium Americas by 41.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock worth $1,008,000 after acquiring an additional 108,993 shares during the last quarter. PFG Investments LLC purchased a new stake in Lithium Americas in the third quarter valued at $90,000. Ballentine Partners LLC acquired a new position in shares of Lithium Americas in the 3rd quarter valued at $67,000. Finally, International Assets Investment Management LLC grew its holdings in shares of Lithium Americas by 194.1% during the 3rd quarter. International Assets Investment Management LLC now owns 33,008 shares of the company’s stock worth $89,000 after purchasing an additional 21,783 shares during the period.

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.