Lithium Americas (NYSE:LAC) Given New $3.50 Price Target at Piper Sandler

Lithium Americas (NYSE:LAC) had its target price reduced by equities researchers at Piper Sandler from $3.90 to $3.50 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 6.38% from the company’s previous close.

Several other analysts have also weighed in on the company. Wedbush started coverage on Lithium Americas in a research report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 target price on the stock. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Scotiabank dropped their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Finally, B. Riley increased their price target on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.51.

Lithium Americas Stock Performance

Shares of LAC stock opened at $3.29 on Tuesday. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $7.71. The stock’s fifty day moving average price is $3.59 and its two-hundred day moving average price is $3.00. The company has a market cap of $726.05 million, a PE ratio of -27.42 and a beta of 1.67.

Institutional Trading of Lithium Americas

Several institutional investors have recently added to or reduced their stakes in LAC. Fairscale Capital LLC acquired a new position in shares of Lithium Americas in the 2nd quarter worth approximately $27,000. Quent Capital LLC raised its stake in Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in Lithium Americas in the second quarter valued at $27,000. AE Wealth Management LLC bought a new stake in Lithium Americas during the second quarter valued at $27,000. Finally, Wedbush Securities Inc. bought a new stake in Lithium Americas during the second quarter valued at $32,000.

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.