HSBC Cuts Lithium Americas (NYSE:LAC) Price Target to $5.10

Lithium Americas (NYSE:LAC) had its price target cut by HSBC from $6.50 to $5.10 in a research report sent to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also recently commented on LAC. Evercore ISI decreased 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. JPMorgan Chase & Co. lifted their price objective on Lithium Americas from $5.50 to $7.00 and gave the stock a neutral rating in a research note on Monday, March 18th. Finally, Scotiabank cut Lithium Americas from a sector outperform rating to a sector perform rating and decreased their target price for the company from $15.00 to $7.00 in a research note on Monday, March 18th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $12.18.

Lithium Americas Stock Performance

LAC stock opened at $4.73 on Friday. Lithium Americas has a twelve month low of $3.81 and a twelve month high of $12.38. The business has a fifty day moving average of $5.77 and a 200-day moving average of $6.27.

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

Institutional Trading of Lithium Americas

Several institutional investors and hedge funds have recently bought and sold shares of the stock. General Motors Holdings LLC raised its holdings in Lithium Americas by 100.0% during the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock worth $190,829,000 after acquiring an additional 15,002,245 shares in the last quarter. Vanguard Group Inc. raised its holdings in Lithium Americas by 1.5% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Lithium Americas by 24.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock worth $15,122,000 after acquiring an additional 461,635 shares in the last quarter. Van ECK Associates Corp raised its stake 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 buying an additional 369,879 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Lithium Americas by 395.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,057,533 shares of the company’s stock valued at $6,768,000 after buying an additional 844,229 shares during the period.

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.