Lithium Americas (NYSE:LAC) Upgraded by BMO Capital Markets to “Hold”

BMO Capital Markets upgraded shares of Lithium Americas (NYSE:LAC) to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

A number of other brokerages have also issued reports on LAC. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. Piper Sandler initiated coverage on shares of Lithium Americas in a report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective for the company. Scotiabank dropped their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday, October 18th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Finally, B. Riley cut their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.50.

Lithium Americas Trading Up 7.9 %

Shares of NYSE LAC opened at $3.68 on Wednesday. Lithium Americas has a 12-month low of $2.02 and a 12-month high of $7.86. The stock has a 50 day simple moving average of $2.65 and a 200-day simple moving average of $3.25.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). As a group, equities analysts forecast that Lithium Americas will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LAC. Renaissance Technologies LLC purchased a new position in Lithium Americas during the second quarter valued at approximately $520,000. Marshall Wace LLP acquired a new stake in shares of Lithium Americas during the 2nd quarter valued at $10,252,000. Merewether Investment Management LP purchased a new position in shares of Lithium Americas during the 2nd quarter valued at $858,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lithium Americas by 8.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock worth $1,627,000 after acquiring an additional 18,388 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Lithium Americas by 580.1% during the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after acquiring an additional 1,584,123 shares in the last quarter.

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.