Lithium Americas (NYSE:LAC) Upgraded to Outperform at National Bank Financial

National Bank Financial upgraded shares of Lithium Americas (NYSE:LAC) from a sector perform rating to an outperform rating in a report published on Thursday morning, MarketBeat.com reports.

Other research analysts have also issued reports about the stock. Piper Sandler assumed coverage on shares of Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price for the company. B. Riley decreased their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. Finally, Scotiabank reduced their price target on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 15th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Lithium Americas Trading Down 3.1 %

Shares of LAC stock opened at $3.14 on Thursday. The business’s fifty day moving average is $2.55 and its 200 day moving average is $3.32. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $8.07.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). As a group, equities research analysts predict that Lithium Americas will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas

A number of large investors have recently modified their holdings of LAC. Marshall Wace LLP purchased a new stake in Lithium Americas in the second quarter worth about $10,252,000. Van ECK Associates Corp lifted 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 purchasing an additional 1,625,149 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Lithium Americas by 580.1% during the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after purchasing an additional 1,584,123 shares in the last quarter. Teamwork Financial Advisors LLC boosted its position in shares of Lithium Americas by 2,274.3% during the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after purchasing an additional 381,965 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new stake in Lithium Americas in the second quarter worth $858,000.

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.