Lithium Americas (NYSE:LAC) Trading Down 5.9% – What’s Next?

Lithium Americas Corp. (NYSE:LAC)’s stock price was down 5.9% on Wednesday . The stock traded as low as $3.64 and last traded at $3.65. Approximately 2,908,109 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 5,384,581 shares. The stock had previously closed at $3.88.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LAC shares. Scotiabank reduced their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday, October 18th. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped 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. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Finally, B. Riley raised their price objective on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Lithium Americas has an average rating of “Hold” and an average price target of $5.63.

Lithium Americas Trading Down 5.9 %

The stock’s 50 day moving average price is $3.49 and its two-hundred day moving average price is $3.02. The firm has a market capitalization of $805.48 million and a PE ratio of -30.08.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Creative Financial Designs Inc. ADV increased its stake in shares of Lithium Americas by 39.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock worth $35,000 after purchasing an additional 3,693 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Lithium Americas by 13.2% during the 3rd quarter. National Bank of Canada FI now owns 37,129 shares of the company’s stock worth $100,000 after purchasing an additional 4,340 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Lithium Americas by 12.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock worth $112,000 after purchasing an additional 4,504 shares in the last quarter. Cowen AND Company LLC increased its stake in shares of Lithium Americas by 50.0% during the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock worth $40,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Quent Capital LLC increased its stake in shares of Lithium Americas by 100.0% during the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after purchasing an additional 5,000 shares in the last quarter.

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.