Lithium Americas (NYSE:LAC) Shares Gap Down to $6.63

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $6.63, but opened at $4.84. Lithium Americas shares last traded at $4.80, with a volume of 11,375,919 shares trading hands.

Analysts Set New Price Targets

LAC has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Lithium Americas from $5.50 to $7.00 and gave the company a "neutral" rating in a report on Monday, March 18th. Scotiabank downgraded shares of Lithium Americas from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $15.00 to $7.00 in a report on Monday, March 18th. Finally, Evercore ISI decreased their price objective on shares of Lithium Americas from $13.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday, March 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $14.94.

Lithium Americas Price Performance

The company's 50 day moving average price is $5.76 and its two-hundred day moving average price is $6.45.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its quarterly earnings results on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). As a group, research analysts anticipate that Lithium Americas Corp. will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. General Motors Holdings LLC increased its position 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 purchasing an additional 15,002,245 shares during the last quarter. Vanguard Group Inc. increased its position 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 purchasing an additional 53,563 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 purchasing an additional 461,635 shares during the last quarter. Van ECK Associates Corp increased its position in Lithium Americas by 22.2% during the fourth quarter. Van ECK Associates Corp now owns 2,033,397 shares of the company's stock worth $13,015,000 after purchasing an additional 369,879 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Lithium Americas by 395.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,057,533 shares of the company's stock worth $6,768,000 after purchasing an additional 844,229 shares during 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.