Lithium Americas (NYSE:LAC) Research Coverage Started at Wedbush

Wedbush initiated coverage on shares of Lithium Americas (NYSE:LAC) in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $5.00 price objective on the stock.

A number of other brokerages have also issued reports on LAC. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. B. Riley upped their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Finally, 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 research report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.56.

Lithium Americas Stock Up 1.0 %

LAC opened at $2.97 on Thursday. The company has a market cap of $655.43 million and a PE ratio of -24.75. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $7.71. The company has a 50-day moving average price of $3.66 and a 200 day moving average price of $2.98.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in shares of Lithium Americas by 131.1% during the 2nd quarter. SG Americas Securities LLC now owns 23,751 shares of the company’s stock worth $64,000 after purchasing an additional 13,472 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Lithium Americas by 9.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 264,387 shares of the company’s stock worth $709,000 after buying an additional 22,313 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Lithium Americas during the second quarter valued at about $30,000. Van ECK Associates Corp raised its stake in shares of Lithium Americas by 69.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock valued at $10,591,000 after acquiring an additional 1,625,149 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in shares of Lithium Americas in the 2nd quarter worth approximately $97,000.

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.