B. Riley Issues Positive Forecast for Lithium Americas (NYSE:LAC) Stock Price

Lithium Americas (NYSE:LAC) had its target price increased by B. Riley from $4.50 to $5.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently weighed in on LAC. Scotiabank reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 18th. Piper Sandler began coverage on shares of Lithium Americas in a research note on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective for the company. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.63.

Lithium Americas Stock Down 3.1 %

LAC opened at $4.10 on Tuesday. The company has a fifty day moving average of $2.99 and a two-hundred day moving average of $3.08. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $7.86.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Sell-side analysts predict that Lithium Americas will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LAC. Creative Financial Designs Inc. ADV increased its stake in Lithium Americas by 39.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock valued at $35,000 after buying an additional 3,693 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Lithium Americas by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock worth $112,000 after buying an additional 4,504 shares during the last quarter. Cowen AND Company LLC increased its holdings in shares of Lithium Americas by 50.0% during the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock worth $40,000 after buying an additional 5,000 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after purchasing an additional 5,000 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in Lithium Americas by 37.1% during the third quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company’s stock valued at $59,000 after buying an additional 5,930 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.