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

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

Other equities analysts have also issued research reports about the stock. Evercore ISI cut their target price on shares of Lithium Americas from $13.00 to $9.00 and set an outperform rating for the company in a research report on Friday, March 15th. Scotiabank downgraded shares of Lithium Americas from a sector outperform rating to a sector perform rating and lowered their price target for the stock from $15.00 to $7.00 in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. increased their price target 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. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Lithium Americas has an average rating of Moderate Buy and an average price target of $12.18.

Lithium Americas Trading Up 0.4 %

Shares of NYSE:LAC 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 price of $5.78 and a two-hundred day moving average price of $6.23.

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

Institutional Investors Weigh In On Lithium Americas

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised 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 purchasing an additional 1,360 shares in the last quarter. Operose Advisors LLC purchased a new stake in Lithium Americas in the third quarter valued at approximately $44,000. Banque Cantonale Vaudoise purchased a new stake in Lithium Americas in the first quarter valued at approximately $25,000. Mather Group LLC. purchased a new stake in Lithium Americas in the first quarter valued at approximately $26,000. Finally, PNC Financial Services Group Inc. raised 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 purchasing an additional 2,201 shares in the last quarter.

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.