Lithium Americas (NYSE:LAC) Price Target Cut to $2.50 by Analysts at Scotiabank

Lithium Americas (NYSE:LAC) had its target price cut by Scotiabank from $3.00 to $2.50 in a report published on Friday morning, MarketBeat Ratings reports. They currently have a sector perform rating on the stock.

Several other brokerages also recently weighed in on LAC. B. Riley cut their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lowered their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday. Finally, Piper Sandler initiated coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.50.

Lithium Americas Trading Down 3.1 %

LAC opened at $3.14 on Friday. The business’s 50-day moving average is $2.55 and its two-hundred day moving average is $3.37. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $8.07.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). As a group, research analysts anticipate that Lithium Americas will post -0.09 EPS for the current fiscal year.

Institutional Trading of Lithium Americas

Several institutional investors have recently modified their holdings of LAC. Virtu Financial LLC purchased a new position in Lithium Americas in the 4th quarter valued at about $217,000. Mather Group LLC. acquired a new position in Lithium Americas in the 1st quarter valued at $26,000. Banque Cantonale Vaudoise purchased a new position in Lithium Americas in the 1st quarter valued at $25,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Lithium Americas by 8.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock valued at $1,627,000 after purchasing an additional 18,388 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in Lithium Americas during the 1st quarter worth $101,000.

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.