Lithium Americas (NYSE:LAC) Shares Up 1.5% – What’s Next?

Lithium Americas Corp. (NYSE:LAC) shares rose 1.5% during trading on Wednesday . The stock traded as high as $4.07 and last traded at $3.96. Approximately 1,689,634 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 5,399,795 shares. The stock had previously closed at $3.90.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price 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. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. B. Riley increased their price target on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Scotiabank decreased their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.63.

Lithium Americas Stock Performance

The firm’s fifty day moving average is $3.34 and its two-hundred day moving average is $3.03. The company has a market cap of $875.02 million and a P/E ratio of -33.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fairscale Capital LLC purchased a new stake in Lithium Americas during the second quarter valued at $27,000. Quent Capital LLC lifted its holdings in shares of Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after acquiring an additional 5,000 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in Lithium Americas in the second quarter worth about $27,000. AE Wealth Management LLC bought a new stake in Lithium Americas during the second quarter worth approximately $27,000. Finally, SG Americas Securities LLC purchased a new stake in Lithium Americas during the first quarter valued at approximately $69,000.

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.