Truist Financial Corp Lowers Holdings in Lithium Americas Corp. (NYSE:LAC)

Truist Financial Corp reduced its stake in shares of Lithium Americas Corp. (NYSE:LAC) by 11.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 43,740 shares of the company’s stock after selling 5,900 shares during the period. Truist Financial Corp’s holdings in Lithium Americas were worth $117,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LAC. Banque Cantonale Vaudoise acquired a new stake in Lithium Americas during the first quarter worth about $25,000. Mather Group LLC. purchased a new stake in Lithium Americas in the 1st quarter worth approximately $26,000. Fairscale Capital LLC purchased a new position in shares of Lithium Americas during the 2nd quarter valued at approximately $27,000. AE Wealth Management LLC purchased a new position in shares of Lithium Americas during the 2nd quarter valued at approximately $27,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Lithium Americas in the 2nd quarter valued at $27,000.

Analysts Set New Price Targets

Several analysts recently commented on LAC shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. B. Riley dropped their target price on Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday. Scotiabank lowered their price target on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Piper Sandler assumed coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Lithium Americas Trading Down 3.1 %

NYSE:LAC opened at $3.14 on Monday. The stock has a 50 day moving average of $2.55 and a two-hundred day moving average of $3.32. Lithium Americas Corp. has a 12 month low of $2.02 and a 12 month high of $8.07.

Lithium Americas (NYSE:LAC) last issued its quarterly 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, sell-side analysts expect that Lithium Americas Corp. will post -0.09 earnings per share for the current fiscal year.

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.