Lithium Americas (NYSE:LAC) PT Lowered to $2.50 at Scotiabank

Lithium Americas (NYSE:LAC) had its target price reduced by Scotiabank from $3.00 to $2.50 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential downside of 20.38% from the company’s previous close.

Several other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Piper Sandler began coverage on Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. B. Riley reduced their target price on Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Lithium Americas Stock Down 3.1 %

Shares of NYSE LAC opened at $3.14 on Friday. The stock’s fifty day moving average price is $2.55 and its two-hundred day moving average price is $3.34. Lithium Americas has a one year low of $2.02 and a one year high of $8.07.

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

Institutional Trading of Lithium Americas

Several large investors have recently bought and sold shares of LAC. Virtu Financial LLC acquired a new stake in Lithium Americas in the fourth quarter valued at about $217,000. Mather Group LLC. acquired a new stake in Lithium Americas in the first quarter valued at about $26,000. Banque Cantonale Vaudoise bought a new position in Lithium Americas in the first quarter valued at about $25,000. Wealth Enhancement Advisory Services LLC raised its position in Lithium Americas by 8.2% in the first 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 during the last quarter. Finally, MorganRosel Wealth Management LLC bought a new position in Lithium Americas in the first quarter valued at about $101,000.

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.