Lithium Americas Corp. (NYSE:LAC – Get Free Report)’s stock price dropped 5.4% during mid-day trading on Tuesday . The stock traded as low as $6.41 and last traded at $6.44. Approximately 1,218,826 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 3,439,639 shares. The stock had previously closed at $6.81.
Wall Street Analyst Weigh In
LAC has been the subject of several research analyst reports. Scotiabank cut Lithium Americas from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $15.00 to $7.00 in a research note on Monday, March 18th. Evercore ISI reduced their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas presently has a consensus rating of “Moderate Buy” and an average target price of $14.94.
Read Our Latest Research Report on Lithium Americas
Lithium Americas Trading Up 2.3 %
Lithium Americas (NYSE:LAC – Get Free Report) last issued its quarterly earnings data on Friday, March 15th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). Analysts predict that Lithium Americas Corp. will post -0.15 EPS for the current year.
Institutional Trading of Lithium Americas
Several institutional investors have recently bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new stake in Lithium Americas in the first quarter valued at approximately $101,000. Wealth Enhancement Advisory Services LLC grew its holdings in Lithium Americas by 8.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock valued at $1,627,000 after purchasing an additional 18,388 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Lithium Americas in the first quarter valued at approximately $25,000. Mather Group LLC. acquired a new stake in Lithium Americas in the first quarter valued at approximately $26,000. Finally, Vanguard Group Inc. boosted its stake in shares of Lithium Americas by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 3,587,703 shares of the company’s stock worth $22,961,000 after acquiring an additional 53,563 shares during 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.
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