Lithium Americas (NYSE:LAC) PT Lowered to $5.10 at HSBC

Lithium Americas (NYSE:LAC) had its price objective cut by investment analysts at HSBC from $6.50 to $5.10 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. HSBC’s target price would suggest a potential upside of 8.97% from the stock’s current price.

Several other research analysts have also commented on LAC. Evercore ISI cut their price objective on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, March 15th. JPMorgan Chase & Co. boosted their target price on Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Finally, Scotiabank downgraded Lithium Americas from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $15.00 to $7.00 in a research report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.18.

Lithium Americas Stock Up 0.4 %

Shares of NYSE LAC traded up $0.02 during midday trading on Friday, hitting $4.68. 7,244,552 shares of the company’s stock were exchanged, compared to its average volume of 3,864,934. Lithium Americas has a 12-month low of $3.81 and a 12-month high of $12.38. The business’s fifty day moving average price is $5.76 and its two-hundred day moving average price is $6.45.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Friday, March 15th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). Sell-side analysts expect that Lithium Americas will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Lithium Americas by 1.1% in the third quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock valued at $60,116,000 after purchasing an additional 39,419 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Lithium Americas by 3.6% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 60,551 shares of the company’s stock valued at $368,000 after buying an additional 2,126 shares during the period. LPL Financial LLC increased its stake in shares of Lithium Americas by 82.6% during the third quarter. LPL Financial LLC now owns 223,701 shares of the company’s stock valued at $3,805,000 after buying an additional 101,174 shares during the period. Allworth Financial LP purchased a new position in shares of Lithium Americas during the fourth quarter valued at approximately $37,000. Finally, Mutual Advisors LLC increased its stake in shares of Lithium Americas by 37.1% during the fourth quarter. Mutual Advisors LLC now owns 52,073 shares of the company’s stock valued at $333,000 after buying an additional 14,101 shares during the period.

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.