Lithium Americas (NYSE:LAC) Trading Down 3.4%

Lithium Americas Corp. (NYSE:LAC)’s stock price was down 3.4% during trading on Tuesday . The stock traded as low as $6.43 and last traded at $6.63. Approximately 969,839 shares were traded during trading, a decline of 72% from the average daily volume of 3,471,555 shares. The stock had previously closed at $6.86.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LAC shares. JPMorgan Chase & Co. upped their target price on Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Evercore ISI decreased their target price on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Finally, Scotiabank downgraded Lithium Americas from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $15.00 to $7.00 in a report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.94.

Lithium Americas Stock Performance

The firm has a 50-day moving average price of $5.02 and a 200-day moving average price of $7.68.

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 the consensus estimate of ($0.08). Sell-side analysts predict that Lithium Americas Corp. will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of 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 in the last quarter. Allworth Financial LP bought a new stake in shares of Lithium Americas during the 4th quarter worth $37,000. CWM LLC boosted its stake in shares of Lithium Americas by 140.6% during the 3rd quarter. CWM LLC now owns 2,327 shares of the company’s stock worth $40,000 after acquiring an additional 1,360 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Lithium Americas during the 1st quarter worth $42,000. Finally, Operose Advisors LLC bought a new stake in shares of Lithium Americas during the 3rd quarter worth $44,000.

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. The company was incorporated in 2023 and is headquartered in Vancouver, Canada.