Lithium Americas (NYSE:LAC – Free Report) had its price target cut by JPMorgan Chase & Co. from $7.00 to $5.50 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the stock.
A number of other equities research analysts have also recently weighed in on LAC. Eight Capital set a $16.50 price target on Lithium Americas and gave the stock a buy rating in a report on Thursday, October 19th. Deutsche Bank Aktiengesellschaft restated a hold rating and issued a $7.00 price target (down previously from $25.00) on shares of Lithium Americas in a report on Wednesday, October 18th. Canaccord Genuity Group initiated coverage on Lithium Americas in a report on Tuesday, October 31st. They issued a speculative buy rating on the stock. B. Riley initiated coverage on Lithium Americas in a report on Monday, October 16th. They set a buy rating and a $14.00 target price on the stock. Finally, National Bank Financial initiated coverage on Lithium Americas in a report on Wednesday, November 15th. They set an outperform rating on the stock. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Lithium Americas currently has a consensus rating of Moderate Buy and a consensus target price of $17.13.
Lithium Americas Trading Up 1.4 %
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in LAC. Vanguard Group Inc. raised its position in shares of Lithium Americas by 5,307.4% in the 1st quarter. Vanguard Group Inc. now owns 3,047,023 shares of the company’s stock worth $117,280,000 after buying an additional 2,990,674 shares during the period. Norges Bank purchased a new position in Lithium Americas in the fourth quarter valued at about $17,582,000. Mirae Asset Global Investments Co. Ltd. raised its position 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. Balyasny Asset Management LLC purchased a new position in Lithium Americas in the third quarter valued at about $10,257,000. Finally, Van ECK Associates Corp raised its position in Lithium Americas by 22.2% in the fourth quarter. Van ECK Associates Corp now owns 2,033,397 shares of the company’s stock valued at $13,015,000 after purchasing an additional 369,879 shares during the period. 27.28% of the stock is owned by hedge funds and other institutional investors.
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. The company was incorporated in 2023 and is headquartered in Vancouver, Canada.
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