Lithium Americas (NYSE:LAC) Price Target Lowered to $2.75 at Scotiabank

Lithium Americas (NYSE:LAC) had its price target dropped by equities researchers at Scotiabank from $3.00 to $2.75 in a research note issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 2.42% from the stock’s current price.

Other research analysts have also issued research reports about the company. Wedbush assumed coverage on Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 target price on the stock. Piper Sandler dropped their price objective on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Cormark raised shares of Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Lithium Americas has an average rating of “Hold” and an average price target of $4.84.

Lithium Americas Stock Down 0.6 %

LAC stock traded down $0.02 during midday trading on Monday, reaching $2.69. 1,799,461 shares of the company’s stock traded hands, compared to its average volume of 5,644,101. The firm’s fifty day moving average price is $2.96 and its 200-day moving average price is $3.18. Lithium Americas has a 52 week low of $2.02 and a 52 week high of $7.71. The company has a market cap of $592.54 million, a price-to-earnings ratio of -22.29 and a beta of 1.77.

Lithium Americas (NYSE:LAC) last posted its earnings results on Friday, March 28th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Analysts forecast that Lithium Americas will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its stake in Lithium Americas by 99.4% in the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock valued at $31,000 after acquiring an additional 4,893 shares during the last quarter. Sage Investment Counsel LLC bought a new stake in shares of Lithium Americas in the 4th quarter worth approximately $30,000. Mariner LLC purchased a new position in Lithium Americas in the fourth quarter valued at approximately $31,000. Susquehanna Fundamental Investments LLC bought a new position in Lithium Americas during the fourth quarter valued at $34,000. Finally, Axxcess Wealth Management LLC purchased a new stake in Lithium Americas in the fourth quarter worth $37,000.

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.