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

Lithium Americas (NYSE:LAC) had its price objective raised by B. Riley from $4.50 to $5.00 in a research note published on Tuesday morning,Benzinga reports. The firm 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 equities analysts also recently issued reports on the company. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Scotiabank decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. Piper Sandler initiated coverage on shares of Lithium Americas in a research note on Monday, July 29th. They set a “neutral” rating and a $3.90 target price for the company. Finally, National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.63.

Lithium Americas Trading Down 8.1 %

Shares of NYSE LAC opened at $3.88 on Tuesday. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $7.86. The company’s 50-day moving average is $3.07 and its 200 day moving average is $3.08.

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

Hedge Funds Weigh In On Lithium Americas

A number of hedge funds have recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new position in shares of Lithium Americas in the second quarter worth $27,000. AE Wealth Management LLC bought a new position in Lithium Americas during the 2nd quarter valued at about $27,000. Evergreen Capital Management LLC purchased a new stake in shares of Lithium Americas during the 2nd quarter valued at about $27,000. Quent Capital LLC grew its stake in shares of Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after acquiring an additional 5,000 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Lithium Americas during the second quarter valued at approximately $30,000.

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.