Scotiabank Lowers Lithium Americas (NYSE:LAC) Price Target to $2.75

Lithium Americas (NYSE:LAC) had its price target reduced by Scotiabank from $3.00 to $2.75 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential downside of 0.54% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Cormark upgraded Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Wedbush initiated coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price target on the stock. Finally, Piper Sandler decreased their price target on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.84.

Lithium Americas Trading Up 2.0 %

Shares of NYSE LAC opened at $2.77 on Monday. Lithium Americas has a one year low of $2.02 and a one year high of $7.71. The business has a fifty day simple moving average of $2.94 and a 200 day simple moving average of $3.19. The firm has a market capitalization of $610.19 million, a price-to-earnings ratio of -23.04 and a beta of 1.77.

Lithium Americas (NYSE:LAC) last issued its earnings results on Friday, March 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). On average, research analysts anticipate that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LAC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Lithium Americas by 8.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,254,848 shares of the company’s stock valued at $9,732,000 after buying an additional 240,418 shares during the period. Quinn Opportunity Partners LLC boosted its position in Lithium Americas by 1,132.5% in the fourth quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company’s stock worth $2,411,000 after purchasing an additional 745,777 shares during the last quarter. HITE Hedge Asset Management LLC increased its stake in shares of Lithium Americas by 150.9% during the 4th quarter. HITE Hedge Asset Management LLC now owns 731,473 shares of the company’s stock worth $2,172,000 after purchasing an additional 439,974 shares during the last quarter. Teamwork Financial Advisors LLC raised its holdings in shares of Lithium Americas by 79.2% in the 4th quarter. Teamwork Financial Advisors LLC now owns 714,381 shares of the company’s stock worth $2,122,000 after purchasing an additional 315,621 shares during the period. Finally, Decade Renewable Partners LP bought a new stake in shares of Lithium Americas in the fourth quarter valued at $1,331,000.

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.