Lithium Americas (NYSE:LAC) Price Target Cut to $5.10

Lithium Americas (NYSE:LAC) had its price target lowered by HSBC from $6.50 to $5.10 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts also recently issued reports about the stock. Scotiabank downgraded shares of Lithium Americas from a sector outperform rating to a sector perform rating and dropped their price target for the stock from $15.00 to $7.00 in a research note on Monday, March 18th. Evercore ISI dropped their price target on shares of Lithium Americas from $13.00 to $9.00 and set an outperform rating on the stock in a research note on Friday, March 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a neutral rating in a research note on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Lithium Americas has a consensus rating of Moderate Buy and an average target price of $12.18.

Lithium Americas Stock Performance

LAC opened at $4.73 on Friday. The stock has a fifty day moving average of $5.77 and a 200-day moving average of $6.38. Lithium Americas has a 12-month low of $3.81 and a 12-month high of $12.38.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). On average, sell-side analysts anticipate that Lithium Americas will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Lithium Americas by 1.1% during the third quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock worth $60,116,000 after buying an additional 39,419 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in Lithium Americas by 3.6% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 60,551 shares of the company’s stock worth $368,000 after buying an additional 2,126 shares during the last quarter. LPL Financial LLC boosted its holdings in Lithium Americas by 82.6% during the third quarter. LPL Financial LLC now owns 223,701 shares of the company’s stock valued at $3,805,000 after acquiring an additional 101,174 shares during the period. Allworth Financial LP bought a new stake in Lithium Americas during the fourth quarter valued at about $37,000. Finally, Mutual Advisors LLC boosted its holdings in Lithium Americas by 37.1% during the fourth quarter. Mutual Advisors LLC now owns 52,073 shares of the company’s stock valued at $333,000 after acquiring an additional 14,101 shares during the period.

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.