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

Lithium Americas (NYSE:LAC) had its target price reduced by Piper Sandler from $3.90 to $3.50 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently issued reports on LAC. Scotiabank lowered their price objective on 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. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. B. Riley boosted their price objective on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Wedbush assumed coverage on Lithium Americas in a research note on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.51.

Lithium Americas Price Performance

NYSE LAC opened at $3.29 on Tuesday. The stock has a market capitalization of $726.05 million, a price-to-earnings ratio of -27.42 and a beta of 1.67. Lithium Americas has a one year low of $2.02 and a one year high of $7.71. The business’s fifty day moving average is $3.58 and its 200-day moving average is $3.01.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LAC. Evergreen Capital Management LLC purchased a new position in shares of Lithium Americas during the second quarter worth about $27,000. AE Wealth Management LLC purchased a new position in shares of Lithium Americas during the second quarter worth about $27,000. Fairscale Capital LLC purchased a new position in shares of Lithium Americas during the second quarter worth about $27,000. Quent Capital LLC grew its holdings in shares of Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in Lithium Americas in the second quarter worth approximately $32,000.

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.