Scotiabank Trims Lithium Americas (NYSE:LAC) Target Price to $2.50

Lithium Americas (NYSE:LAC) had its target price decreased by Scotiabank from $3.00 to $2.50 in a research note released on Friday morning, Marketbeat reports. Scotiabank currently has a sector perform rating on the stock.

A number of other brokerages also recently issued reports on LAC. B. Riley cut their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Piper Sandler initiated coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price on the stock. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective 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. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.50.

Lithium Americas Stock Down 4.1 %

NYSE:LAC opened at $3.01 on Friday. The stock has a 50 day moving average price of $2.57 and a 200 day moving average price of $3.29. Lithium Americas has a one year low of $2.02 and a one year high of $7.86.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data 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 analysts forecast that Lithium Americas will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

Hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new stake in Lithium Americas during the 1st quarter worth approximately $25,000. Mather Group LLC. acquired a new position in shares of Lithium Americas in the first quarter worth $26,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Lithium Americas by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock worth $112,000 after acquiring an additional 4,504 shares during the period. Cowen AND Company LLC raised its stake in shares of Lithium Americas by 50.0% in the second quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock valued at $40,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the period.

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.