HSBC Cuts Lithium Americas (NYSE:LAC) Price Target to $5.10

Lithium Americas (NYSE:LAC - Get Free Report) had its price objective dropped by equities research analysts at HSBC from $6.50 to $5.10 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "hold" rating on the stock. HSBC's price objective would suggest a potential upside of 7.94% from the company's previous close.

A number of other brokerages also recently issued reports on LAC. Scotiabank downgraded Lithium Americas from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $15.00 to $7.00 in a report on Monday, March 18th. Evercore ISI decreased their price target on Lithium Americas from $13.00 to $9.00 and set an "outperform" rating for the company in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. boosted their target price on Lithium Americas from $5.50 to $7.00 and gave the company a "neutral" rating in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.18.

Lithium Americas Stock Up 1.4 %

NYSE LAC traded up $0.06 during trading on Friday, reaching $4.73. 8,835,576 shares of the company's stock were exchanged, compared to its average volume of 3,889,103. The company has a 50 day moving average price of $5.76 and a two-hundred day moving average price of $6.45. Lithium Americas has a 1 year low of $3.81 and a 1 year high of $12.38.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings results on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.08). On average, analysts forecast that Lithium Americas will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAC. Banque Cantonale Vaudoise purchased a new stake in Lithium Americas during the 1st quarter valued at approximately $25,000. Mather Group LLC. acquired a new position in Lithium Americas during the 1st quarter worth approximately $26,000. PNC Financial Services Group Inc. increased its position in Lithium Americas by 725.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company's stock worth $32,000 after purchasing an additional 725 shares during the period. Allworth Financial LP acquired a new position in Lithium Americas during the 4th quarter worth approximately $37,000. Finally, CWM LLC increased its position in Lithium Americas by 140.6% during the 3rd quarter. CWM LLC now owns 2,327 shares of the company's stock worth $40,000 after purchasing an additional 1,360 shares during the period.

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.