Lithium Americas (NYSE:LAC) Trading 0.5% Higher – Here’s What Happened

Lithium Americas Corp. (NYSE:LAC) shares traded up 0.5% during trading on Monday . The stock traded as high as $3.76 and last traded at $3.74. 1,402,859 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 5,405,691 shares. The stock had previously closed at $3.72.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LAC. B. Riley boosted their price target on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. BMO Capital Markets raised Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Piper Sandler initiated coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.63.

Lithium Americas Stock Up 3.2 %

The business has a 50-day moving average price of $3.19 and a 200-day moving average price of $3.05. The firm has a market capitalization of $824.24 million and a price-to-earnings ratio of -31.13.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in shares of Lithium Americas in the first quarter worth about $202,000. SG Americas Securities LLC acquired a new stake in Lithium Americas in the 1st quarter valued at about $69,000. Toronto Dominion Bank raised its holdings in Lithium Americas by 327.7% in the 1st quarter. Toronto Dominion Bank now owns 21,862 shares of the company’s stock valued at $147,000 after acquiring an additional 16,751 shares during the last quarter. Tidal Investments LLC raised its holdings in Lithium Americas by 51.9% in the 1st quarter. Tidal Investments LLC now owns 253,303 shares of the company’s stock valued at $1,705,000 after acquiring an additional 86,570 shares during the last quarter. Finally, Virtu Financial LLC raised its holdings in Lithium Americas by 83.4% in the 1st quarter. Virtu Financial LLC now owns 62,252 shares of the company’s stock valued at $418,000 after acquiring an additional 28,305 shares during the last quarter.

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.