Lithium Americas (NYSE:LAC) Stock Price Down 5.4%

Lithium Americas Corp. (NYSE:LACGet Free Report)’s stock price was down 5.4% during mid-day trading on Tuesday . The stock traded as low as $6.41 and last traded at $6.44. Approximately 1,218,826 shares traded hands during trading, a decline of 65% from the average daily volume of 3,439,639 shares. The stock had previously closed at $6.81.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LAC shares. Scotiabank downgraded shares of Lithium Americas from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $15.00 to $7.00 in a research note on Monday, March 18th. JPMorgan Chase & Co. boosted their target price on shares of Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. Finally, Evercore ISI dropped their price target on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.94.

Check Out Our Latest Stock Analysis on LAC

Lithium Americas Stock Up 2.3 %

The stock’s 50 day moving average price is $5.75 and its two-hundred day moving average price is $6.47.

Lithium Americas (NYSE:LACGet Free Report) last posted its earnings results on Friday, March 15th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). Research analysts predict that Lithium Americas Corp. will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently bought and sold shares of LAC. Banque Cantonale Vaudoise acquired a new position in Lithium Americas during the first quarter worth $25,000. Mather Group LLC. acquired a new position in Lithium Americas during the first quarter worth $26,000. PNC Financial Services Group Inc. increased its position in Lithium Americas by 725.0% during the first quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after buying an additional 725 shares during the last quarter. Allworth Financial LP acquired a new position in Lithium Americas during the fourth quarter worth $37,000. Finally, CWM LLC increased its position in Lithium Americas by 140.6% during the third quarter. CWM LLC now owns 2,327 shares of the company’s stock worth $40,000 after buying an additional 1,360 shares during the last quarter.

Lithium Americas Company Profile

(Get Free Report)

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.

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