Lithium Americas (NYSE:LAC) Stock Price Down 2.8%

Lithium Americas Corp. (NYSE:LAC) fell 2.8% during trading on Monday . The stock traded as low as $2.74 and last traded at $2.75. 144,237 shares changed hands during trading, a decline of 97% from the average session volume of 4,313,149 shares. The stock had previously closed at $2.83.

Analysts Set New Price Targets

Several brokerages have commented on LAC. HSBC lowered their target price on Lithium Americas from $6.50 to $5.10 and set a “hold” rating for the company in a research note on Friday, April 19th. National Bank Financial raised Lithium Americas to a “hold” rating in a research note on Wednesday, June 5th. Piper Sandler initiated coverage on Lithium Americas in a research note on Monday. They issued a “neutral” rating and a $3.90 price objective for the company. Finally, Eight Capital lowered their price objective on Lithium Americas from $13.50 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.67.

Lithium Americas Trading Down 7.1 %

The business’s 50-day simple moving average is $3.03 and its two-hundred day simple moving average is $4.45.

Lithium Americas (NYSE:LAC) last released its earnings results on Monday, May 13th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Equities research analysts forecast that Lithium Americas Corp. will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently modified their holdings of LAC. Vanguard Group Inc. boosted its holdings in shares of Lithium Americas by 1.1% during the 3rd 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 in the last quarter. International Assets Investment Management LLC bought a new position in shares of Lithium Americas during the 4th quarter worth approximately $71,000. Allworth Financial LP bought a new position in shares of Lithium Americas during the 4th quarter worth approximately $37,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Lithium Americas by 24.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock worth $15,122,000 after buying an additional 461,635 shares in the last quarter. Finally, Aquila Investment Management LLC boosted its holdings in shares of Lithium Americas by 163.3% during the 4th quarter. Aquila Investment Management LLC now owns 316,000 shares of the company’s stock worth $2,022,000 after buying an additional 196,000 shares in the last quarter.

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.