Lithium Americas (NYSE:LAC) Stock Price Down 5.5% - What's Next?

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s stock price fell 5.5% during trading on Thursday . The stock traded as low as $3.99 and last traded at $3.99. 4,537,316 shares traded hands during trading, a decline of 16% from the average session volume of 5,383,946 shares. The stock had previously closed at $4.22.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LAC shares. BMO Capital Markets raised shares of Lithium Americas to a "hold" rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Lithium Americas from $3.00 to $2.50 and set a "hold" rating on the stock in a report on Friday, August 16th. B. Riley increased their price target on Lithium Americas from $4.50 to $5.00 and gave the company a "buy" rating in a research report on Tuesday. Piper Sandler initiated coverage on Lithium Americas in a research note on Monday, July 29th. They set a "neutral" rating and a $3.90 price objective on the stock. Finally, Scotiabank reduced their target price on shares of Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating for the company in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $5.63.

Lithium Americas Trading Down 5.7 %

The stock's fifty day moving average is $3.07 and its two-hundred day moving average is $3.08. The company has a market capitalization of $878.25 million and a PE ratio of -33.17.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, analysts anticipate that Lithium Americas Corp. will post -0.1 EPS for the current fiscal year.

Institutional Trading of Lithium Americas

A number of large investors have recently bought and sold shares of LAC. Van ECK Associates Corp grew its stake in shares of Lithium Americas by 69.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company's stock worth $10,591,000 after acquiring an additional 1,625,149 shares during the period. Marshall Wace LLP purchased a new stake in Lithium Americas during the second quarter valued at about $10,252,000. Point72 Asset Management L.P. boosted its position in Lithium Americas by 580.1% during the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company's stock worth $4,977,000 after purchasing an additional 1,584,123 shares during the period. Teamwork Financial Advisors LLC raised its position in shares of Lithium Americas by 2,274.3% in the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company's stock valued at $1,077,000 after purchasing an additional 381,965 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Lithium Americas by 41.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company's stock valued at $1,008,000 after purchasing an additional 108,993 shares during the period.

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.

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