Lithium Americas (NYSE:LAC) Trading Down 5.4%

Lithium Americas Corp. (NYSE:LAC)’s share price traded down 5.4% on Tuesday . The stock traded as low as $6.41 and last traded at $6.44. 1,218,826 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 3,439,639 shares. The stock had previously closed at $6.81.

Analyst Ratings Changes

Several equities analysts recently commented on LAC shares. Scotiabank lowered Lithium Americas from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $15.00 to $7.00 in a research report on Monday, March 18th. JPMorgan Chase & Co. lifted 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 dropped 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 equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.94.

Lithium Americas Price Performance

The stock has a fifty day moving average price of $5.65 and a two-hundred day moving average price of $6.54.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). On average, sell-side analysts predict that Lithium Americas Corp. will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAC. JPMorgan Chase & Co. boosted its position in Lithium Americas by 51.9% during the 1st quarter. JPMorgan Chase & Co. now owns 218,536 shares of the company’s stock valued at $8,412,000 after purchasing an additional 74,648 shares during the period. Cetera Advisor Networks LLC acquired a new position in Lithium Americas during the 1st quarter worth $359,000. Citigroup Inc. acquired a new position in Lithium Americas during the 1st quarter worth $325,000. PNC Financial Services Group Inc. boosted its position in Lithium Americas by 725.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after acquiring an additional 725 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Lithium Americas during the 1st quarter worth $860,000.

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.