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

Lithium Americas (NYSE:LAC - Get Free Report) had its price target reduced by analysts 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 price target would indicate a potential upside of 7.63% from the company's previous close. Scotiabank also issued estimates for Lithium Americas' FY2025 earnings at ($0.26) EPS and FY2026 earnings at ($0.26) EPS.

Several other research analysts have also commented on the company. Wedbush began coverage on Lithium Americas in a report on Thursday, December 19th. They set a "neutral" rating and a $5.00 price objective for the company. Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a research report on Friday, January 17th. Finally, Piper Sandler cut their target price on shares of Lithium Americas from $3.90 to $3.50 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Lithium Americas has a consensus rating of "Hold" and a consensus price target of $4.84.

Lithium Americas Trading Down 5.4 %

Shares of NYSE LAC traded down $0.15 during midday trading on Monday, hitting $2.56. The company's stock had a trading volume of 5,756,172 shares, compared to its average volume of 5,655,866. The firm has a market capitalization of $563.85 million, a price-to-earnings ratio of -21.29 and a beta of 1.01. The stock has a fifty day moving average price of $2.92 and a 200 day moving average price of $3.18. Lithium Americas has a one year low of $2.02 and a one year high of $7.71.

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Lithium Americas (NYSE:LAC - Get Free Report) last issued 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). On average, equities research analysts predict that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Institutional investors and hedge funds have recently modified their holdings of the stock. Centiva Capital LP increased its stake in shares of Lithium Americas by 71.7% during the third quarter. Centiva Capital LP now owns 231,946 shares of the company's stock valued at $626,000 after purchasing an additional 96,896 shares in the last quarter. HighTower Advisors LLC boosted its stake in Lithium Americas by 13.4% during the 3rd quarter. HighTower Advisors LLC now owns 50,473 shares of the company's stock valued at $138,000 after purchasing an additional 5,952 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Lithium Americas during the third quarter valued at $787,000. National Bank of Canada FI lifted its holdings in shares of Lithium Americas by 13.2% during the third quarter. National Bank of Canada FI now owns 37,129 shares of the company's stock valued at $100,000 after purchasing an additional 4,340 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Lithium Americas during the third quarter valued at $133,000.

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.