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

Lithium Americas (NYSE:LAC) 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.

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

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.