Lithium Americas (NYSE:LAC) Stock Price Down 5.4%

Shares of Lithium Americas Corp. (NYSE:LAC) traded down 5.4% during mid-day trading on Tuesday . The stock traded as low as $6.41 and last traded at $6.44. 1,218,826 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 3,439,639 shares. The stock had previously closed at $6.81.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Evercore ISI cut their price target on 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 cut 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 research note on Monday, March 18th. Finally, JPMorgan Chase & Co. boosted their price target on Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.94.

Lithium Americas Stock Performance

The firm’s 50-day simple moving average is $5.65 and its 200 day simple moving average is $6.54.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Equities research analysts anticipate that Lithium Americas Corp. will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LAC. General Motors Holdings LLC increased its holdings in shares of Lithium Americas by 100.0% during the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock worth $190,829,000 after buying an additional 15,002,245 shares in the last quarter. Vanguard Group Inc. increased its holdings in Lithium Americas by 5,307.4% in the first quarter. Vanguard Group Inc. now owns 3,047,023 shares of the company’s stock valued at $117,280,000 after purchasing an additional 2,990,674 shares during the period. Norges Bank acquired a new stake in Lithium Americas in the fourth quarter valued at $17,582,000. Goldman Sachs Group Inc. increased its holdings in Lithium Americas by 395.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,057,533 shares of the company’s stock valued at $6,768,000 after purchasing an additional 844,229 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Lithium Americas by 24.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock valued at $15,122,000 after purchasing an additional 461,635 shares during the period.

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.