Lithium Americas (NYSE:LAC) Trading Down 2.7%

Lithium Americas Corp. (NYSE:LAC - Get Free Report) was down 2.7% during mid-day trading on Friday . The company traded as low as $2.50 and last traded at $2.52. Approximately 819,141 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 4,157,600 shares. The stock had previously closed at $2.59.

Analyst Ratings Changes

A number of research analysts have issued reports on LAC shares. Scotiabank decreased their price target on shares of Lithium Americas from $5.50 to $3.00 and set a "sector perform" rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft decreased their price target 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. National Bank Financial raised shares of Lithium Americas to a "hold" rating in a report on Wednesday, June 5th. B. Riley decreased their price target on shares of Lithium Americas from $4.50 to $4.00 and set a "buy" rating for the company in a report on Friday, August 16th. Finally, Eight Capital decreased their price target on shares of Lithium Americas from $13.50 to $10.00 and set a "buy" rating for the company in a report on Tuesday, May 14th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $6.61.

Lithium Americas Stock Performance

The business's 50-day moving average is $2.63 and its two-hundred day moving average is $4.09.

Hedge Funds Weigh In On Lithium Americas

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. raised its stake 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. Northwestern Mutual Wealth Management Co. raised its stake in Lithium Americas by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company's stock worth $112,000 after purchasing an additional 4,504 shares during the period. The Manufacturers Life Insurance Company raised its stake in Lithium Americas by 75.9% during the second quarter. The Manufacturers Life Insurance Company now owns 78,554 shares of the company's stock worth $209,000 after purchasing an additional 33,900 shares during the period. Merewether Investment Management LP purchased a new position in Lithium Americas during the second quarter worth about $858,000. Finally, Toronto Dominion Bank raised its stake in Lithium Americas by 150.1% during the second quarter. Toronto Dominion Bank now owns 54,687 shares of the company's stock worth $147,000 after purchasing an additional 32,825 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.