Lithium Americas (NYSE:LAC) Shares Gap Up – Still a Buy?

Lithium Americas Corp. (NYSE:LAC)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $2.96, but opened at $3.02. Lithium Americas shares last traded at $2.94, with a volume of 370,733 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wedbush began coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They set a “neutral” rating and a $5.00 target price for the company. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. Finally, Piper Sandler lowered their price target on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.80.

Lithium Americas Trading Up 2.5 %

The company’s fifty day moving average price is $3.01 and its two-hundred day moving average price is $3.15. The firm has a market cap of $669.78 million, a P/E ratio of -25.29 and a beta of 1.77.

Institutional Investors Weigh In On Lithium Americas

Large investors have recently made changes to their positions in the company. Sage Investment Counsel LLC bought a new stake in shares of Lithium Americas in the 4th quarter worth about $30,000. Allworth Financial LP grew its holdings in shares of Lithium Americas by 99.4% in the 4th quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after purchasing an additional 4,893 shares during the last quarter. Mariner LLC bought a new stake in shares of Lithium Americas in the 4th quarter worth about $31,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Lithium Americas in the 4th quarter worth about $34,000. Finally, Axxcess Wealth Management LLC bought a new stake in shares of Lithium Americas in the 4th quarter worth about $37,000.

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.