BMO Capital Markets Upgrades Lithium Americas (NYSE:LAC) to Hold

Lithium Americas (NYSE:LAC) was upgraded by BMO Capital Markets to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

A number of other research firms have also weighed in on LAC. B. Riley reduced their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Scotiabank decreased their price objective on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. Finally, Piper Sandler began coverage on shares of Lithium Americas in a report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.50.

Lithium Americas Stock Up 2.6 %

Shares of NYSE LAC opened at $3.50 on Wednesday. The stock has a fifty day simple moving average of $2.61 and a 200-day simple moving average of $3.27. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $7.86.

Lithium Americas (NYSE:LAC) last released its 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). As a group, analysts anticipate that Lithium Americas will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Lithium Americas by 8.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock worth $1,627,000 after purchasing an additional 18,388 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Lithium Americas during the first quarter worth approximately $101,000. Teamwork Financial Advisors LLC purchased a new stake in Lithium Americas in the first quarter valued at approximately $68,000. Van ECK Associates Corp grew its position in shares of Lithium Americas by 14.5% during the first quarter. Van ECK Associates Corp now owns 2,327,978 shares of the company’s stock worth $15,644,000 after acquiring an additional 294,581 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Lithium Americas in the 1st quarter valued at $202,000.

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.