Lithium Americas (NYSE:LAC) Shares Gap Up – What’s Next?

Lithium Americas Corp. (NYSE:LAC)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.14, but opened at $4.54. Lithium Americas shares last traded at $5.09, with a volume of 18,183,997 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LAC shares. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Scotiabank decreased their target price 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. Deutsche Bank Aktiengesellschaft dropped their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. B. Riley reduced their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, 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 target price on the stock. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.50.

Lithium Americas Price Performance

The business’s fifty day moving average is $2.75 and its two-hundred day moving average is $3.16.

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

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAC. Van ECK Associates Corp increased its position in shares of Lithium Americas by 69.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock valued at $10,591,000 after purchasing an additional 1,625,149 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Lithium Americas in the second quarter valued at $10,252,000. Point72 Asset Management L.P. raised its stake in shares of Lithium Americas by 580.1% in the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after acquiring an additional 1,584,123 shares during the period. Teamwork Financial Advisors LLC lifted its holdings in shares of Lithium Americas by 2,274.3% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock worth $1,077,000 after acquiring an additional 381,965 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lithium Americas by 41.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock worth $1,008,000 after purchasing an additional 108,993 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.