Piper Sandler Cuts Lithium Americas (NYSE:LAC) Price Target to $3.50

Lithium Americas (NYSE:LACFree Report) had its price target lowered by Piper Sandler from $3.90 to $3.50 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also weighed in on the stock. B. Riley increased their price objective on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Wedbush assumed coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price target on the stock. Scotiabank decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Friday, October 18th. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.51.

Get Our Latest Analysis on Lithium Americas

Lithium Americas Price Performance

Shares of LAC opened at $3.29 on Tuesday. The firm has a market capitalization of $726.05 million, a PE ratio of -27.42 and a beta of 1.67. The company’s 50-day moving average is $3.58 and its 200-day moving average is $3.01. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $7.71.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in Lithium Americas during the 2nd quarter worth approximately $10,252,000. Point72 Asset Management L.P. grew its position in shares of Lithium Americas by 580.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after buying an additional 1,584,123 shares during the period. Teamwork Financial Advisors LLC grew its position in Lithium Americas by 2,274.3% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after purchasing an additional 381,965 shares during the period. Tidal Investments LLC grew its position in Lithium Americas by 31.8% in the 3rd quarter. Tidal Investments LLC now owns 379,078 shares of the company’s stock valued at $1,024,000 after purchasing an additional 91,353 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Lithium Americas by 41.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock valued at $1,008,000 after purchasing an additional 108,993 shares during the period.

About Lithium Americas

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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.

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Analyst Recommendations for Lithium Americas (NYSE:LAC)

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