Piper Sandler Cuts Lithium Americas (NYSE:LAC) Price Target to $3.50

Lithium Americas (NYSE:LAC) had its target price reduced by Piper Sandler from $3.90 to $3.50 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently weighed in on LAC. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. B. Riley raised their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Wedbush began coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They set a “neutral” rating and a $5.00 price target on the stock. Scotiabank decreased their price objective 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. Finally, National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas has an average rating of “Hold” and an average target price of $5.51.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $3.44 on Tuesday. The business has a 50-day moving average of $3.61 and a 200-day moving average of $3.00. The stock has a market capitalization of $759.16 million, a price-to-earnings ratio of -28.67 and a beta of 1.67. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $7.71.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC increased its stake in shares of Lithium Americas by 31.8% during the third quarter. Tidal Investments LLC now owns 379,078 shares of the company’s stock worth $1,024,000 after purchasing an additional 91,353 shares during the period. Barclays PLC increased its position in Lithium Americas by 50.7% during the 3rd quarter. Barclays PLC now owns 115,208 shares of the company’s stock worth $311,000 after buying an additional 38,781 shares during the period. Virtue Capital Management LLC acquired a new stake in shares of Lithium Americas during the third quarter worth $135,000. Geode Capital Management LLC boosted its position in shares of Lithium Americas by 21.6% in the third quarter. Geode Capital Management LLC now owns 103,275 shares of the company’s stock valued at $279,000 after acquiring an additional 18,321 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Lithium Americas in the third quarter valued at about $161,000.

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.