Lithium Americas (NYSE:LAC) Stock Price Down 6.2%

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price dropped 6.2% during trading on Monday . The stock traded as low as $3.92 and last traded at $3.95. Approximately 648,119 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 2,294,865 shares. The stock had previously closed at $4.21.

Analyst Upgrades and Downgrades

LAC has been the topic of several research reports. Canaccord Genuity Group initiated coverage on Lithium Americas in a report on Tuesday, October 31st. They set a "speculative buy" rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $7.00 price target (down from $25.00) on shares of Lithium Americas in a report on Wednesday, October 18th. B. Riley began coverage on Lithium Americas in a report on Monday, October 16th. They issued a "buy" rating and a $14.00 price target on the stock. National Bank Financial began coverage on Lithium Americas in a report on Wednesday, November 15th. They issued an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. began coverage on Lithium Americas in a report on Monday, December 11th. They issued a "neutral" rating and a $7.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.11.

Lithium Americas Price Performance

The stock has a 50-day moving average price of $5.84 and a two-hundred day moving average price of $11.16.

Institutional Trading of Lithium Americas

A number of institutional investors have recently made changes to their positions in LAC. JPMorgan Chase & Co. lifted its position in Lithium Americas by 51.9% during the 1st quarter. JPMorgan Chase & Co. now owns 218,536 shares of the company's stock worth $8,412,000 after acquiring an additional 74,648 shares during the period. Cetera Advisor Networks LLC acquired a new stake in Lithium Americas during the 1st quarter worth about $359,000. Citigroup Inc. acquired a new stake in Lithium Americas during the 1st quarter worth about $325,000. PNC Financial Services Group Inc. lifted 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 acquiring an additional 725 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Lithium Americas during the 1st quarter worth about $860,000. Institutional investors and hedge funds own 27.28% of the company's stock.

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. The company was incorporated in 2023 and is headquartered in Vancouver, Canada.

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