Lithium Americas (NYSE:LAC) Sees Large Volume Increase on Analyst Upgrade

Lithium Americas Corp. (NYSE:LAC) saw strong trading volume on Tuesday after B. Riley raised their price target on the stock from $4.50 to $5.00. B. Riley currently has a buy rating on the stock. 4,612,033 shares were traded during mid-day trading, a decline of 13% from the previous session’s volume of 5,325,384 shares.The stock last traded at $4.23 and had previously closed at $4.23.

LAC has been the topic of a number of other reports. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler began coverage on Lithium Americas in a research note on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. Finally, Scotiabank reduced their price objective 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. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.63.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAC. Wolverine Asset Management LLC lifted its holdings in shares of Lithium Americas by 3.7% in the third quarter. Wolverine Asset Management LLC now owns 278,622 shares of the company’s stock valued at $752,000 after buying an additional 10,000 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in shares of Lithium Americas by 39.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock valued at $35,000 after buying an additional 3,693 shares in the last quarter. Hedges Asset Management LLC lifted its position in shares of Lithium Americas by 100.0% during the 3rd quarter. Hedges Asset Management LLC now owns 50,000 shares of the company’s stock valued at $135,000 after acquiring an additional 25,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position 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 valued at $1,008,000 after acquiring an additional 108,993 shares during the last quarter. Finally, PFG Investments LLC bought a new stake in shares of Lithium Americas during the 3rd quarter worth $90,000.

Lithium Americas Trading Down 3.1 %

The firm has a market capitalization of $904.75 million and a price-to-earnings ratio of -34.33. The stock has a fifty day moving average of $2.99 and a 200-day moving average of $3.08.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data 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 forecast that Lithium Americas Corp. will post -0.09 earnings per share for the current fiscal year.

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.