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

Lithium Americas (NYSE:LAC) had its price target cut by equities research analysts at Scotiabank from $3.00 to $2.75 in a report issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential downside of 0.54% from the company’s current price.

A number of other equities analysts also recently issued reports on LAC. Piper Sandler decreased their price target on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Finally, Wedbush began coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They set a “neutral” rating and a $5.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.84.

Lithium Americas Trading Up 2.0 %

Shares of Lithium Americas stock opened at $2.77 on Monday. The business’s 50-day moving average price is $2.94 and its 200-day moving average price is $3.19. The firm has a market capitalization of $610.19 million, a PE ratio of -23.04 and a beta of 1.77. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.71.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Friday, March 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). As a group, analysts predict that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors have recently bought and sold shares of LAC. Perigon Wealth Management LLC increased its stake in shares of Lithium Americas by 46.2% in the fourth quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock worth $47,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lithium Americas by 21.6% in the third quarter. Geode Capital Management LLC now owns 103,275 shares of the company’s stock valued at $279,000 after acquiring an additional 18,321 shares in the last quarter. HB Wealth Management LLC bought a new position in shares of Lithium Americas in the fourth quarter worth about $55,000. Jones Financial Companies Lllp boosted its stake in Lithium Americas by 29.5% in the 4th quarter. Jones Financial Companies Lllp now owns 87,350 shares of the company’s stock worth $259,000 after purchasing an additional 19,908 shares during the period. Finally, Barclays PLC boosted its stake in Lithium Americas by 50.7% in the 3rd quarter. Barclays PLC now owns 115,208 shares of the company’s stock worth $311,000 after purchasing an additional 38,781 shares during the period.

Lithium Americas Company Profile

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.