Lithium Americas (NYSE:LAC) Trading Up 2.1% – Still a Buy?

Lithium Americas Corp. (NYSE:LAC)’s stock price traded up 2.1% on Thursday . The stock traded as high as $3.65 and last traded at $3.36. 14,072,747 shares were traded during trading, an increase of 217% from the average session volume of 4,438,659 shares. The stock had previously closed at $3.29.

Wall Street Analyst Weigh In

LAC has been the topic of a number of research analyst reports. B. Riley cut their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Piper Sandler initiated coverage on Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective on the stock. Scotiabank decreased their target price on Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.56.

Lithium Americas Stock Down 1.5 %

The company has a fifty day simple moving average of $2.52 and a 200-day simple moving average of $3.40.

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

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds have recently added to or reduced their stakes in LAC. Teamwork Financial Advisors LLC increased its stake in shares of Lithium Americas by 2,274.3% during the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock worth $1,077,000 after buying an additional 381,965 shares during the period. Vontobel Holding Ltd. grew its holdings in Lithium Americas by 37.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company’s stock worth $59,000 after acquiring an additional 5,930 shares in the last quarter. Creative Planning increased its position in shares of Lithium Americas by 21.8% in the 3rd quarter. Creative Planning now owns 33,276 shares of the company’s stock valued at $90,000 after purchasing an additional 5,945 shares during the last quarter. Silverlake Wealth Management LLC acquired a new position in shares of Lithium Americas during the third quarter worth $89,000. Finally, Quent Capital LLC lifted its stake 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 last quarter.

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.