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

Lithium Americas (NYSE:LAC) had its price target cut by Scotiabank from $3.00 to $2.75 in a research report sent to investors on Monday,Benzinga reports. They currently have a sector perform rating on the stock.

Other equities analysts have also issued reports about the stock. Wedbush began coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They set a “neutral” rating and a $5.00 price target for the company. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler cut 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.84.

Lithium Americas Trading Up 0.4 %

NYSE:LAC opened at $2.77 on Monday. The company has a market capitalization of $611.30 million, a P/E ratio of -23.08 and a beta of 1.77. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.71. The firm has a fifty day simple moving average of $2.93 and a 200-day simple moving average of $3.18.

Lithium Americas (NYSE:LAC) last posted its quarterly 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). Equities analysts forecast that Lithium Americas will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Lithium Americas by 8.0% in the 4th 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 in the last quarter. Quinn Opportunity Partners LLC boosted its position in shares of Lithium Americas by 1,132.5% during the 4th quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company’s stock valued at $2,411,000 after acquiring an additional 745,777 shares during the last quarter. HITE Hedge Asset Management LLC grew its holdings in shares of Lithium Americas by 150.9% in the fourth quarter. HITE Hedge Asset Management LLC now owns 731,473 shares of the company’s stock valued at $2,172,000 after purchasing an additional 439,974 shares during the period. Teamwork Financial Advisors LLC increased its position in Lithium Americas by 79.2% during the fourth 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 last quarter. Finally, Decade Renewable Partners LP purchased a new position in Lithium Americas during the fourth quarter worth about $1,331,000.

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.