Lithium Americas (NYSE:LAC) Stock Rating Upgraded by National Bank Financial

Lithium Americas (NYSE:LAC) was upgraded by research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a report released on Thursday, Marketbeat Ratings reports.

Several other equities research analysts also recently issued reports on LAC. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. B. Riley reduced their target price on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Scotiabank reduced their target price on Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a research report on Thursday, August 15th. Finally, Piper Sandler began coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Lithium Americas Stock Performance

Shares of Lithium Americas stock opened at $3.14 on Thursday. The company’s fifty day simple moving average is $2.55 and its 200-day simple moving average is $3.37. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $8.07.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Equities analysts forecast that Lithium Americas will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in shares of Lithium Americas during the second quarter valued at $520,000. Marshall Wace LLP bought a new position in shares of Lithium Americas during the second quarter valued at $10,252,000. Virtu Financial LLC bought a new position in shares of Lithium Americas during the fourth quarter valued at $217,000. Merewether Investment Management LP bought a new position in shares of Lithium Americas during the second quarter valued at $858,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings 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 valued at $1,627,000 after acquiring an additional 18,388 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.