Lithium Americas (NYSE:LAC) Trading Down 5.7%

Lithium Americas Corp. (NYSE:LAC) fell 5.7% during trading on Tuesday . The stock traded as low as $2.47 and last traded at $2.48. 2,112,524 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 4,220,491 shares. The stock had previously closed at $2.63.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased 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 note on Friday. B. Riley decreased 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 note on Friday. National Bank Financial upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, June 5th. Scotiabank reduced their price objective 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, Eight Capital reduced their price objective on shares of Lithium Americas from $13.50 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Lithium Americas currently has an average rating of “Moderate Buy” and a consensus target price of $6.61.

Lithium Americas Price Performance

The business’s fifty day moving average price is $2.66 and its 200 day moving average price is $4.17.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise acquired a new position in Lithium Americas in the 1st quarter valued at $25,000. Mather Group LLC. acquired a new position in Lithium Americas in the 1st quarter valued at $26,000. Quent Capital LLC acquired a new position in Lithium Americas in the 1st quarter valued at $48,000. Headlands Technologies LLC increased its stake in Lithium Americas by 2,332.3% in the 1st quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock valued at $52,000 after buying an additional 7,370 shares during the period. Finally, Fairscale Capital LLC purchased a new stake in shares of Lithium Americas during the 2nd quarter worth $27,000.

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.