Lithium Americas (NYSE:LAC) Trading Down 5.7%

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price was down 5.7% during mid-day trading on Tuesday . The stock traded as low as $2.47 and last traded at $2.48. Approximately 2,112,524 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 4,220,491 shares. The stock had previously closed at $2.63.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Eight Capital cut their price objective on Lithium Americas from $13.50 to $10.00 and set a "buy" rating for the company in a report on Tuesday, May 14th. Scotiabank lowered their price objective on Lithium Americas from $5.50 to $3.00 and set a "sector perform" rating for the company in a research report on Thursday, August 15th. B. Riley cut their price target on Lithium Americas from $4.50 to $4.00 and set a "buy" rating on the stock in a research note on Friday. National Bank Financial upgraded shares of Lithium Americas to a "hold" rating in a research report on Wednesday, June 5th. Finally, Piper Sandler began coverage on Lithium Americas in a research note on Monday, July 29th. They issued a "neutral" rating and a $3.90 target price for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Lithium Americas has an average rating of "Moderate Buy" and a consensus target price of $6.61.

Lithium Americas Stock Performance

The business has a 50 day simple moving average of $2.65 and a 200-day simple moving average of $4.16.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new position in Lithium Americas in the first quarter worth $25,000. Mather Group LLC. bought a new stake in shares of Lithium Americas during the 1st quarter valued at $26,000. Quent Capital LLC purchased a new stake in shares of Lithium Americas in the first quarter worth about $48,000. Headlands Technologies LLC grew its position in shares of Lithium Americas by 2,332.3% during the 1st quarter. Headlands Technologies LLC now owns 7,686 shares of the company's stock valued at $52,000 after purchasing an additional 7,370 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new position in shares of Lithium Americas during the second quarter worth about $27,000.

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.