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

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

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

Lithium Americas Price Performance

LAC opened at $3.42 on Wednesday. The business has a fifty day moving average price of $2.61 and a 200 day moving average price of $3.27. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.86.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LAC. Quent Capital LLC purchased a new position in shares of Lithium Americas during the 1st quarter worth approximately $48,000. Headlands Technologies LLC raised its stake in Lithium Americas by 2,332.3% in the 1st quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock valued at $52,000 after purchasing an additional 7,370 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of Lithium Americas during the 2nd quarter worth about $27,000. Teamwork Financial Advisors LLC acquired a new position in shares of Lithium Americas in the first quarter valued at approximately $68,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of Lithium Americas during the second quarter valued at approximately $27,000.

About Lithium Americas

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.