Lithium Americas (NYSE:LAC) Given New $2.50 Price Target at Scotiabank

Lithium Americas (NYSE:LAC) had its price target decreased by Scotiabank from $3.00 to $2.50 in a research note published on Friday morning, MarketBeat.com reports. Scotiabank currently has a sector perform rating on the stock.

A number of other research analysts have also commented on the stock. B. Riley dropped their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Piper Sandler started coverage on Lithium Americas in a research note on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. Finally, National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $3.01 on Friday. The business has a 50-day moving average price of $2.57 and a 200 day moving average price of $3.29. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $7.86.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, sell-side analysts expect that Lithium Americas will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LAC. Banque Cantonale Vaudoise purchased a new stake in shares of Lithium Americas during the 1st quarter worth $25,000. Mather Group LLC. acquired a new stake in shares of Lithium Americas in the first quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Lithium Americas by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock worth $112,000 after buying an additional 4,504 shares in the last quarter. Cowen AND Company LLC grew its position in Lithium Americas by 50.0% during the second quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock worth $40,000 after buying an additional 5,000 shares during the period. Finally, Quent Capital LLC increased its holdings in Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after buying an additional 5,000 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.