Lithium Americas (NYSE:LAC) Shares Up 6.9%

Lithium Americas Corp. (NYSE:LAC)’s stock price traded up 6.9% on Tuesday . The stock traded as high as $2.50 and last traded at $2.47. 1,508,948 shares traded hands during trading, a decline of 63% from the average session volume of 4,067,422 shares. The stock had previously closed at $2.31.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Piper Sandler assumed coverage on shares of Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. B. Riley reduced their target price 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 to a “hold” rating in a research note on Wednesday, June 5th. Finally, Scotiabank dropped their price target on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Lithium Americas currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.61.

Lithium Americas Price Performance

The stock’s 50-day moving average price is $2.51 and its 200-day moving average price is $3.80.

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 the consensus estimate of ($0.03) by ($0.02). On average, research analysts anticipate that Lithium Americas Corp. will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise bought a new position in shares of Lithium Americas in the first quarter worth $25,000. Mather Group LLC. bought a new stake in shares of Lithium Americas during the 1st quarter worth about $26,000. Fairscale Capital LLC acquired a new stake in shares of Lithium Americas in the 2nd quarter worth approximately $27,000. AE Wealth Management LLC acquired a new stake in shares of Lithium Americas in the 2nd quarter worth approximately $27,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Lithium Americas in the 2nd quarter worth approximately $27,000.

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.