Lithium Americas (NYSE:LAC) PT Lowered to $10.00 at Eight Capital

Lithium Americas (NYSE:LAC - Get Free Report) had its target price lowered by investment analysts at Eight Capital from $13.50 to $10.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Eight Capital's price target would indicate a potential upside of 119.06% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. HSBC dropped their price objective on shares of Lithium Americas from $6.50 to $5.10 and set a "hold" rating on the stock in a research note on Friday, April 19th. Scotiabank lowered shares of Lithium Americas from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $15.00 to $7.00 in a report on Monday, March 18th. Evercore ISI cut their price target on shares of 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 price target on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a "neutral" rating in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.46.

Lithium Americas Stock Up 3.8 %

LAC traded up $0.17 on Tuesday, hitting $4.57. 5,698,313 shares of the company's stock traded hands, compared to its average volume of 4,099,217. The company's 50 day simple moving average is $5.72 and its 200-day simple moving average is $5.79. Lithium Americas has a one year low of $3.81 and a one year high of $12.38.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its earnings results on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Research analysts expect that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. General Motors Holdings LLC increased its position in shares of Lithium Americas by 100.0% during the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company's stock valued at $190,829,000 after acquiring an additional 15,002,245 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Lithium Americas by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company's stock worth $60,116,000 after purchasing an additional 39,419 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Lithium Americas by 24.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company's stock valued at $15,122,000 after purchasing an additional 461,635 shares during the period. Van ECK Associates Corp lifted its stake in Lithium Americas by 14.5% during the first quarter. Van ECK Associates Corp now owns 2,327,978 shares of the company's stock worth $15,644,000 after purchasing an additional 294,581 shares in the last quarter. Finally, Aquila Investment Management LLC boosted its position in shares of Lithium Americas by 89.9% during the first quarter. Aquila Investment Management LLC now owns 600,000 shares of the company's stock worth $4,032,000 after buying an additional 284,000 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.