Lithium Americas (NYSE:LAC) Price Target Cut to $5.10

Lithium Americas (NYSE:LAC) had its price target trimmed by HSBC from $6.50 to $5.10 in a report published on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.

LAC has been the subject of several other research reports. Evercore ISI reduced their price target on shares of Lithium Americas from $13.00 to $9.00 and set an outperform rating for the company in a report on Friday, March 15th. JPMorgan Chase & Co. increased their target price on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a neutral rating in a report on Monday, March 18th. Finally, Scotiabank cut shares of Lithium Americas from a sector outperform rating to a sector perform rating and reduced their target price for the stock from $15.00 to $7.00 in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $12.18.

Lithium Americas Trading Up 0.4 %

Lithium Americas stock opened at $4.75 on Friday. Lithium Americas has a twelve month low of $3.81 and a twelve month high of $12.38. The company has a 50 day moving average of $5.78 and a 200-day moving average of $6.23.

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

Institutional Trading of Lithium Americas

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Lithium Americas by 140.6% in the third quarter. CWM LLC now owns 2,327 shares of the company’s stock valued at $40,000 after acquiring an additional 1,360 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Lithium Americas by 3.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 60,551 shares of the company’s stock valued at $368,000 after acquiring an additional 2,126 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Lithium Americas by 71.6% in the third quarter. PNC Financial Services Group Inc. now owns 5,275 shares of the company’s stock valued at $90,000 after acquiring an additional 2,201 shares during the last quarter. Csenge Advisory Group lifted its stake in Lithium Americas by 13.1% in the third quarter. Csenge Advisory Group now owns 20,254 shares of the company’s stock valued at $345,000 after acquiring an additional 2,345 shares during the last quarter. Finally, Operose Advisors LLC acquired a new stake in Lithium Americas in the third quarter valued at $44,000.

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.