Lithium Americas (NYSE:LAC) Price Target Cut to $5.10 by Analysts at HSBC

Lithium Americas (NYSE:LAC) had its target price decreased by HSBC from $6.50 to $5.10 in a research report released on Friday, Benzinga reports. HSBC currently has a hold rating on the stock.

Several other equities analysts also recently weighed in on the company. Evercore ISI dropped their price objective on Lithium Americas from $13.00 to $9.00 and set an outperform rating for the company in a research note on Friday, March 15th. JPMorgan Chase & Co. increased their target price on Lithium Americas from $5.50 to $7.00 and gave the company a neutral rating in a report on Monday, March 18th. Finally, Scotiabank cut Lithium Americas from a sector outperform rating to a sector perform rating and lowered their target price for the company from $15.00 to $7.00 in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $12.18.

Lithium Americas Stock Up 1.4 %

NYSE LAC opened at $4.73 on Friday. Lithium Americas has a 1-year low of $3.81 and a 1-year high of $12.38. The business has a 50 day moving average price of $5.77 and a 200 day moving average price of $6.38.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). On average, analysts predict that Lithium Americas will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new stake in shares of Lithium Americas during the first quarter worth $25,000. Mather Group LLC. acquired a new stake in shares of Lithium Americas during the first quarter worth $26,000. PNC Financial Services Group Inc. boosted its holdings in shares of Lithium Americas by 725.0% during the first quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after purchasing an additional 725 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Lithium Americas during the fourth quarter worth $37,000. Finally, CWM LLC boosted its holdings in shares of Lithium Americas by 140.6% during the third quarter. CWM LLC now owns 2,327 shares of the company’s stock worth $40,000 after purchasing an additional 1,360 shares during the last quarter.

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.