Lithium Americas (NYSE:LAC) Trading Down 1.8% - Here's What Happened

Lithium Americas Corp. (NYSE:LAC - Get Free Report) fell 1.8% on Monday . The company traded as low as $3.73 and last traded at $3.85. 3,093,075 shares were traded during trading, a decline of 41% from the average session volume of 5,286,632 shares. The stock had previously closed at $3.92.

Analyst Ratings Changes

LAC has been the topic of a number of analyst reports. Piper Sandler started coverage on Lithium Americas in a research report on Monday, July 29th. They issued a "neutral" rating and a $3.90 price target on the stock. Scotiabank lowered their price target on Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating for the company in a research report on Friday, October 18th. National Bank Financial raised shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lithium Americas from $3.00 to $2.50 and set a "hold" rating for the company in a report on Friday, August 16th. Finally, BMO Capital Markets upgraded shares of Lithium Americas to a "hold" rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.50.

Lithium Americas Price Performance

The firm has a 50-day simple moving average of $2.96 and a 200-day simple moving average of $3.08. The firm has a market capitalization of $887.09 million and a PE ratio of -32.08.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. Equities analysts expect that Lithium Americas Corp. will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new position in shares of Lithium Americas in the second quarter worth approximately $10,252,000. Van ECK Associates Corp boosted its stake in Lithium Americas by 69.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company's stock worth $10,591,000 after purchasing an additional 1,625,149 shares during the period. Point72 Asset Management L.P. raised its position in shares of 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 valued at $4,977,000 after buying an additional 1,584,123 shares during the last quarter. Teamwork Financial Advisors LLC boosted its position in shares of Lithium Americas by 2,274.3% during the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company's stock worth $1,077,000 after acquiring an additional 381,965 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new position in Lithium Americas during the 2nd quarter valued at approximately $858,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.