Lithium Americas (NYSE:LAC) Sets New 52-Week Low at $2.61

Lithium Americas Corp. (NYSE:LAC)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $2.61 and last traded at $2.62, with a volume of 875072 shares trading hands. The stock had previously closed at $2.65.

Analyst Upgrades and Downgrades

LAC has been the topic of several recent research reports. Scotiabank lowered shares of Lithium Americas from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $15.00 to $7.00 in a report on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on shares of Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Eight Capital reduced their target price on shares of Lithium Americas from $13.50 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, May 14th. National Bank Financial upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, June 5th. Finally, HSBC reduced their target price on shares of Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of “Moderate Buy” and an average price target of $11.46.

Lithium Americas Price Performance

The business’s fifty day simple moving average is $3.60 and its 200 day simple moving average is $4.88.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). Equities analysts expect that Lithium Americas Corp. will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors have recently modified their holdings of the stock. General Motors Holdings LLC raised its stake in shares of Lithium Americas by 100.0% in the 4th quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock valued at $190,829,000 after purchasing an additional 15,002,245 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lithium Americas by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock valued at $60,116,000 after purchasing an additional 39,419 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Lithium Americas by 24.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock valued at $15,122,000 after purchasing an additional 461,635 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Lithium Americas by 14.5% in the 1st quarter. Van ECK Associates Corp now owns 2,327,978 shares of the company’s stock valued at $15,644,000 after purchasing an additional 294,581 shares in the last quarter. Finally, Aquila Investment Management LLC raised its stake in shares of Lithium Americas by 89.9% in the 1st quarter. Aquila Investment Management LLC now owns 600,000 shares of the company’s stock valued at $4,032,000 after purchasing an additional 284,000 shares in the last quarter.

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.