Short Interest in Lithium Americas Corp. (NYSE:LAC) Drops By 14.5%

Lithium Americas Corp. (NYSE:LAC) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 14,820,000 shares, a decrease of 14.5% from the March 15th total of 17,340,000 shares. Currently, 11.4% of the shares of the stock are short sold. Based on an average daily volume of 3,560,000 shares, the short-interest ratio is currently 4.2 days.

Institutional Trading of Lithium Americas

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of Lithium Americas by 0.6% during the fourth quarter. Legal & General Group Plc now owns 65,285 shares of the company’s stock worth $1,237,000 after acquiring an additional 410 shares during the period. CIBC Asset Management Inc increased its position in shares of Lithium Americas by 0.7% during the second quarter. CIBC Asset Management Inc now owns 98,379 shares of the company’s stock worth $1,992,000 after acquiring an additional 644 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Lithium Americas by 725.0% during the first quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after acquiring an additional 725 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Lithium Americas by 16.8% during the first quarter. Great West Life Assurance Co. Can now owns 5,414 shares of the company’s stock worth $222,000 after acquiring an additional 780 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of Lithium Americas by 224.9% during the first quarter. Captrust Financial Advisors now owns 1,212 shares of the company’s stock worth $47,000 after acquiring an additional 839 shares during the period.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $6.80 on Tuesday. Lithium Americas has a 1 year low of $3.81 and a 1 year high of $12.38. The firm has a 50-day simple moving average of $5.65 and a two-hundred day simple moving average of $6.54.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). On average, sell-side analysts expect that Lithium Americas will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on LAC shares. JPMorgan Chase & Co. increased their price target on shares of Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Scotiabank downgraded shares of Lithium Americas from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $15.00 to $7.00 in a report on Monday, March 18th. Finally, Evercore ISI lowered their price target on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.94.

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.