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

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

A number of other equities analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a "hold" rating on the stock in a research report on Friday, August 16th. National Bank Financial upgraded Lithium Americas from a "sector perform" rating to an "outperform" rating in a report on Thursday. Piper Sandler assumed coverage on Lithium Americas in a report on Monday, July 29th. They set a "neutral" rating and a $3.90 price objective for the company. Finally, B. Riley cut their target price on Lithium Americas from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $5.50.

Lithium Americas Price Performance

LAC traded down $0.11 during trading on Friday, hitting $3.14. The company's stock had a trading volume of 14,921,187 shares, compared to its average volume of 4,579,605. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $8.07. The stock's fifty day moving average price is $2.55 and its 200-day moving average price is $3.37.

Lithium Americas (NYSE:LAC - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). On average, equities analysts anticipate that Lithium Americas will post -0.09 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors have recently bought and sold shares of LAC. Marshall Wace LLP bought a new position in Lithium Americas during the 2nd quarter valued at $10,252,000. Van ECK Associates Corp lifted its position in shares of Lithium Americas by 69.8% during the second quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company's stock valued at $10,591,000 after purchasing an additional 1,625,149 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings 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 last quarter. Teamwork Financial Advisors LLC grew its position in Lithium Americas by 2,274.3% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company's stock worth $1,077,000 after purchasing an additional 381,965 shares in the last quarter. Finally, Merewether Investment Management LP bought a new stake in Lithium Americas in the 2nd quarter worth about $858,000.

About Lithium Americas

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.