Piper Sandler Initiates Coverage on Lithium Americas (NYSE:LAC)

Piper Sandler began coverage on shares of Lithium Americas (NYSE:LAC) in a research report report published on Monday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $3.90 target price on the stock.

A number of other brokerages have also commented on LAC. HSBC cut their price target on Lithium Americas from $6.50 to $5.10 and set a hold rating on the stock in a research note on Friday, April 19th. Eight Capital cut their price target on Lithium Americas from $13.50 to $10.00 and set a buy rating on the stock in a research note on Tuesday, May 14th. Finally, National Bank Financial raised Lithium Americas to a hold rating in a research note on Wednesday, June 5th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $8.67.

Lithium Americas Trading Up 4.6 %

Lithium Americas stock opened at $2.72 on Monday. Lithium Americas has a 12-month low of $2.49 and a 12-month high of $12.38. The business’s 50-day moving average price is $2.94 and its two-hundred day moving average price is $4.39.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). As a group, equities research analysts forecast that Lithium Americas will post -0.08 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise acquired a new position in shares of Lithium Americas in the first quarter worth approximately $25,000. Mather Group LLC. acquired a new position in Lithium Americas in the first quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new position in Lithium Americas in the second quarter valued at approximately $30,000. Allworth Financial LP acquired a new position in Lithium Americas in the fourth quarter valued at approximately $37,000. Finally, Quent Capital LLC acquired a new position in Lithium Americas in the first quarter valued at approximately $48,000.

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.