Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s stock price fell 10.6% on Tuesday . The stock traded as low as $3.23 and last traded at $3.12. 1,449,794 shares traded hands during trading, a decline of 68% from the average session volume of 4,495,265 shares. The stock had previously closed at $3.49.
Several equities analysts recently issued reports on the company. B. Riley boosted their price objective on Lithium Americas from $4.50 to $5.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a report on Friday. Wedbush began coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They issued a "neutral" rating and a $5.00 price objective on the stock. BMO Capital Markets raised shares of Lithium Americas to a "hold" rating in a research note on Wednesday, October 23rd. Finally, Scotiabank dropped their price target on Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating on the stock in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.51.
Get Our Latest Analysis on Lithium Americas
The firm has a 50-day moving average of $3.47 and a 200 day moving average of $3.04. The stock has a market capitalization of $718.31 million, a price-to-earnings ratio of -27.13 and a beta of 1.67.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Evergreen Capital Management LLC acquired a new stake in Lithium Americas in the second quarter valued at $27,000. AE Wealth Management LLC acquired a new stake in Lithium Americas in the 2nd quarter valued at about $27,000. Quent Capital LLC grew its holdings in Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company's stock worth $27,000 after purchasing an additional 5,000 shares during the period. Fairscale Capital LLC acquired a new position in Lithium Americas during the second quarter worth approximately $27,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Lithium Americas in the second quarter valued at approximately $32,000.
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.
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