Lithium Americas (NYSE:LAC) Trading Down 3.4%

Lithium Americas Corp. (NYSE:LAC) traded down 3.4% during trading on Tuesday . The company traded as low as $6.43 and last traded at $6.63. 969,839 shares changed hands during trading, a decline of 72% from the average session volume of 3,471,555 shares. The stock had previously closed at $6.86.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Scotiabank downgraded Lithium Americas from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $15.00 to $7.00 in a report on Monday, March 18th. Finally, Evercore ISI reduced their price objective on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.94.

Lithium Americas Stock Performance

The stock has a fifty day simple moving average of $5.02 and a 200-day simple moving average of $7.68.

Lithium Americas (NYSE:LAC) last released its earnings results on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). On average, equities analysts forecast that Lithium Americas Corp. will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its holdings in shares of Lithium Americas by 0.6% in the 4th quarter. Legal & General Group Plc now owns 65,285 shares of the company’s stock valued at $1,237,000 after acquiring an additional 410 shares in the last quarter. CIBC Asset Management Inc increased its position in Lithium Americas by 0.7% during the second quarter. CIBC Asset Management Inc now owns 98,379 shares of the company’s stock worth $1,992,000 after buying an additional 644 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its position in Lithium Americas by 3.6% during the second quarter. Robertson Stephens Wealth Management LLC now owns 19,177 shares of the company’s stock worth $388,000 after buying an additional 660 shares during the last quarter. 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. Finally, Great West Life Assurance Co. Can increased its position in Lithium Americas by 16.8% during the first quarter. Great West Life Assurance Co. Can now owns 5,414 shares of the company’s stock worth $222,000 after buying an additional 780 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. The company was incorporated in 2023 and is headquartered in Vancouver, Canada.