Lithium Americas (NYSE:LAC) Shares Down 4.2%

Lithium Americas Corp. (NYSE:LAC)’s share price was down 4.2% during mid-day trading on Tuesday . The company traded as low as $2.53 and last traded at $2.53. Approximately 279,998 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 4,301,024 shares. The stock had previously closed at $2.64.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LAC shares. Eight Capital decreased their price target on Lithium Americas from $13.50 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. Scotiabank cut Lithium Americas from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $15.00 to $7.00 in a research report on Monday, March 18th. HSBC decreased their price target on Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a research report on Friday, April 19th. JPMorgan Chase & Co. boosted their price objective on Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Lithium Americas Price Performance

The company has a 50 day simple moving average of $3.41 and a 200-day simple moving average of $4.75.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). As a group, equities analysts expect that Lithium Americas Corp. will post -0.1 EPS for the current year.

Institutional Trading of Lithium Americas

A number of institutional investors have recently made changes to their positions in LAC. General Motors Holdings LLC boosted its stake in shares of Lithium Americas by 100.0% during the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock valued at $190,829,000 after purchasing an additional 15,002,245 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Lithium Americas by 24.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock valued at $15,122,000 after acquiring an additional 461,635 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Lithium Americas by 22.2% during the fourth quarter. Van ECK Associates Corp now owns 2,033,397 shares of the company’s stock valued at $13,015,000 after acquiring an additional 369,879 shares in the last quarter. Panview Asian Equity Master Fund bought a new position in shares of Lithium Americas during the fourth quarter valued at approximately $1,911,000. Finally, Aquila Investment Management LLC raised its holdings in shares of Lithium Americas by 89.9% during the first quarter. Aquila Investment Management LLC now owns 600,000 shares of the company’s stock valued at $4,032,000 after acquiring an additional 284,000 shares in the last quarter.

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.