Lithium Americas (NYSE:LAC) Upgraded to Outperform by National Bank Financial

National Bank Financial upgraded shares of Lithium Americas (NYSE:LAC) from a sector perform rating to an outperform rating in a research report sent to investors on Thursday morning, MarketBeat reports.

Several other equities research analysts also recently weighed in on the stock. B. Riley reduced their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. Scotiabank reduced their price target on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a research report on Thursday, August 15th. Finally, Piper Sandler started coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price target for the company. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.56.

Lithium Americas Stock Down 1.8 %

Shares of NYSE LAC opened at $3.23 on Thursday. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $8.97. The company has a 50 day simple moving average of $2.53 and a two-hundred day simple moving average of $3.40.

Lithium Americas (NYSE:LAC) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Analysts predict that Lithium Americas will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in Lithium Americas in the 2nd quarter worth approximately $520,000. Marshall Wace LLP purchased a new position in shares of Lithium Americas during the 2nd quarter worth $10,252,000. Virtu Financial LLC purchased a new position in shares of Lithium Americas during the 4th quarter worth $217,000. Merewether Investment Management LP purchased a new position in shares of Lithium Americas during the 2nd quarter worth $858,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lithium Americas by 8.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock worth $1,627,000 after acquiring an additional 18,388 shares during the last quarter.

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.