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

Investment analysts at Wedbush assumed coverage on shares of Lithium Americas (NYSE:LAC) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $5.00 price target on the stock. Wedbush’s price target points to a potential upside of 70.65% from the stock’s previous close.

LAC has been the topic of several other reports. Scotiabank decreased their price objective 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. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, 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. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.56.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $2.93 on Thursday. The stock has a market capitalization of $646.61 million and a price-to-earnings ratio of -24.42. The firm’s 50 day simple moving average is $3.65 and its 200-day simple moving average is $2.99. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.71.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of Lithium Americas during the 2nd quarter worth approximately $520,000. Marshall Wace LLP acquired a new stake in Lithium Americas during the second quarter worth $10,252,000. Merewether Investment Management LP purchased a new stake in Lithium Americas in the second quarter valued at $858,000. Point72 Asset Management L.P. grew its holdings in shares of Lithium Americas by 580.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after purchasing an additional 1,584,123 shares during the period. Finally, Teamwork Financial Advisors LLC increased its position in shares of Lithium Americas by 2,274.3% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock worth $1,077,000 after purchasing an additional 381,965 shares during the last quarter.

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.