Lithium Americas (NYSE:LAC) PT Lowered to $5.10 at HSBC

Lithium Americas (NYSE:LAC) had its price objective lowered by stock analysts at HSBC from $6.50 to $5.10 in a report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. HSBC’s price target suggests a potential upside of 8.97% from the company’s current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their target price on Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Evercore ISI cut their price target on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Finally, Scotiabank downgraded Lithium Americas from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $15.00 to $7.00 in a report on Monday, March 18th. Four 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 stock currently has an average rating of “Moderate Buy” and an average target price of $12.18.

Lithium Americas Price Performance

Shares of LAC stock traded up $0.02 on Friday, reaching $4.68. 7,244,552 shares of the company’s stock were exchanged, compared to its average volume of 3,864,934. Lithium Americas has a 52 week low of $3.81 and a 52 week high of $12.38. The company’s fifty day simple moving average is $5.76 and its 200 day simple moving average is $6.45.

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

Institutional Trading of Lithium Americas

Several large investors have recently added to or reduced their stakes in LAC. Banque Cantonale Vaudoise acquired a new position in shares of Lithium Americas in the 1st quarter valued at about $25,000. Mather Group LLC. acquired a new position in Lithium Americas in the 1st quarter worth about $26,000. PNC Financial Services Group Inc. raised its holdings in Lithium Americas by 725.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after purchasing an additional 725 shares during the period. Allworth Financial LP acquired a new position in Lithium Americas in the 4th quarter worth 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 worth $40,000 after buying an additional 1,360 shares in the last quarter.

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.