Lithium Americas (NYSE:LAC) Price Target Cut to $3.50 by Analysts at Piper Sandler

Lithium Americas (NYSE:LAC) had its target price trimmed by Piper Sandler from $3.90 to $3.50 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also recently commented on LAC. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. 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 target price 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. B. Riley upped their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Wedbush began coverage on shares of Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price target for the company. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Lithium Americas currently has an average rating of “Hold” and a consensus price target of $5.51.

Lithium Americas Price Performance

Shares of LAC opened at $3.44 on Tuesday. The company has a market capitalization of $759.16 million, a P/E ratio of -28.67 and a beta of 1.67. Lithium Americas has a one year low of $2.02 and a one year high of $7.71. The business’s 50 day simple moving average is $3.61 and its 200-day simple moving average is $3.00.

Institutional Trading of Lithium Americas

Hedge funds have recently bought and sold shares of the stock. Evergreen Capital Management LLC bought a new stake in shares of Lithium Americas during the second quarter worth $27,000. AE Wealth Management LLC acquired a new position in Lithium Americas in the 2nd quarter worth $27,000. Fairscale Capital LLC bought a new position in Lithium Americas during the 2nd quarter worth about $27,000. Quent Capital LLC raised its stake in shares of Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the period. Finally, Wedbush Securities Inc. bought a new stake in shares of Lithium Americas in the second quarter valued at about $32,000.

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.