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

Lithium Americas (NYSE:LAC) had its target price lowered by Scotiabank from $3.00 to $2.50 in a report issued on Friday morning, MarketBeat reports. Scotiabank currently has a sector perform rating on the stock.

A number of other brokerages also recently issued reports on LAC. B. Riley cut 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. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. Finally, Piper Sandler started coverage on Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective for the company. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Lithium Americas has an average rating of “Moderate Buy” and an average price target of $5.50.

Lithium Americas Price Performance

NYSE LAC opened at $3.14 on Friday. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $8.07. The stock’s fifty day moving average is $2.55 and its two-hundred day moving average is $3.37.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data 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, research analysts anticipate that Lithium Americas will post -0.09 earnings per share for the current year.

Institutional Trading of Lithium Americas

Several hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in Lithium Americas by 69.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock worth $10,591,000 after buying an additional 1,625,149 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Lithium Americas during the second quarter worth $10,252,000. Point72 Asset Management L.P. raised its stake in shares of Lithium Americas by 580.1% in the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after acquiring an additional 1,584,123 shares in the last quarter. Teamwork Financial Advisors LLC raised its stake in shares of Lithium Americas by 2,274.3% in the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after acquiring an additional 381,965 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in Lithium Americas in the second quarter valued at $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.