Lithium Americas (NYSE:LAC) Given New $3.50 Price Target at Piper Sandler

Lithium Americas (NYSE:LAC - Free Report) had its price target decreased by Piper Sandler from $3.90 to $3.50 in a research report sent to investors on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other analysts have also issued reports on LAC. Scotiabank reduced their target price on Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating on the stock in a report on Friday, October 18th. National Bank Financial upgraded shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 17th. BMO Capital Markets upgraded shares of Lithium Americas to a "hold" rating in a research report on Wednesday, October 23rd. B. Riley increased their price target on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Finally, Wedbush initiated coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They set a "neutral" rating and a $5.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $5.51.

Lithium Americas Stock Performance

Shares of LAC stock traded up $0.03 during trading on Tuesday, hitting $3.44. The company had a trading volume of 6,295,147 shares, compared to its average volume of 5,403,908. The stock's 50-day moving average price is $3.63 and its 200 day moving average price is $3.00. Lithium Americas has a one year low of $2.02 and a one year high of $7.71. The firm has a market capitalization of $759.16 million, a P/E ratio of -28.67 and a beta of 1.67.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc acquired a new position in shares of Lithium Americas in the second quarter worth approximately $97,000. TD Asset Management Inc boosted its stake in shares of Lithium Americas by 18.3% in the 2nd quarter. TD Asset Management Inc now owns 140,483 shares of the company's stock valued at $374,000 after purchasing an additional 21,759 shares during the last quarter. National Bank of Canada FI increased its position in shares of Lithium Americas by 147.0% during the second quarter. National Bank of Canada FI now owns 32,789 shares of the company's stock worth $87,000 after buying an additional 19,514 shares during the period. Koss Olinger Consulting LLC bought a new position in Lithium Americas during the second quarter worth $244,000. Finally, Wedbush Securities Inc. acquired a new position in Lithium Americas in the second quarter valued at $32,000.

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.