Lithium Americas (NYSE:LAC) Shares Gap Down to $6.63

Lithium Americas Corp. (NYSE:LAC)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $6.63, but opened at $4.84. Lithium Americas shares last traded at $4.80, with a volume of 11,375,919 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LAC shares. Evercore ISI cut their price objective on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Scotiabank lowered shares of Lithium Americas from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $15.00 to $7.00 in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.94.

Lithium Americas Stock Performance

The business’s 50-day moving average is $5.75 and its 200-day moving average is $6.47.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). As a group, equities analysts anticipate that Lithium Americas Corp. will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise purchased a new position in Lithium Americas during the 1st quarter valued at about $25,000. Mather Group LLC. bought a new stake in Lithium Americas during the 1st quarter valued at about $26,000. PNC Financial Services Group Inc. increased its stake in Lithium Americas by 725.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock valued at $32,000 after purchasing an additional 725 shares in the last quarter. Allworth Financial LP bought a new stake in Lithium Americas during the 4th quarter valued at about $37,000. Finally, CWM LLC increased its stake in Lithium Americas by 140.6% during the 3rd quarter. CWM LLC now owns 2,327 shares of the company’s stock valued at $40,000 after purchasing an additional 1,360 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.