Lithium Americas (NYSE:LAC) Price Target Cut to $2.75 by Analysts at Scotiabank

Lithium Americas (NYSE:LAC) had its price objective lowered by Scotiabank from $3.00 to $2.75 in a report released on Monday,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other research firms have also commented on LAC. Wedbush started coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price objective on the stock. Piper Sandler cut their price target on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Cormark raised Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.84.

Lithium Americas Trading Up 0.6 %

Shares of LAC opened at $2.72 on Monday. The stock’s 50-day moving average price is $2.95 and its two-hundred day moving average price is $3.18. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.71. The company has a market capitalization of $599.16 million, a PE ratio of -22.63 and a beta of 1.77.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Friday, March 28th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). Equities research analysts predict that Lithium Americas will post -0.12 EPS for the current fiscal year.

Institutional Trading of Lithium Americas

Several large investors have recently made changes to their positions in the company. Sage Investment Counsel LLC bought a new position in Lithium Americas in the fourth quarter worth approximately $30,000. Allworth Financial LP raised its position in shares of Lithium Americas by 99.4% during the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after purchasing an additional 4,893 shares during the period. Mariner LLC bought a new position in shares of Lithium Americas in the 4th quarter worth $31,000. Susquehanna Fundamental Investments LLC acquired a new stake in Lithium Americas in the 4th quarter valued at $34,000. Finally, Axxcess Wealth Management LLC bought a new stake in Lithium Americas during the 4th quarter valued at $37,000.

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.