Lithium Americas (NYSE:LAC) Trading 3.7% Higher on Analyst Upgrade

Lithium Americas Corp. (NYSE:LAC)’s stock price rose 3.7% on Wednesday 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. Lithium Americas traded as high as $4.43 and last traded at $4.24. Approximately 5,563,292 shares changed hands during trading, an increase of 4% from the average daily volume of 5,353,698 shares. The stock had previously closed at $4.09.

Several other analysts also recently commented on the stock. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Scotiabank cut their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lowered their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. Finally, Piper Sandler assumed coverage on Lithium Americas in a research note on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.63.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently made changes to their positions in LAC. Creative Financial Designs Inc. ADV grew its stake 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 worth $35,000 after acquiring an additional 3,693 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Lithium Americas by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock valued at $112,000 after purchasing an additional 4,504 shares in the last quarter. Cowen AND Company LLC lifted its holdings in shares of Lithium Americas by 50.0% during the second quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock valued at $40,000 after purchasing an additional 5,000 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Lithium Americas by 37.1% during the third quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company’s stock valued at $59,000 after purchasing an additional 5,930 shares in the last quarter.

Lithium Americas Stock Up 3.7 %

The business has a fifty day moving average price of $3.03 and a 200-day moving average price of $3.07. The stock has a market capitalization of $935.64 million and a P/E ratio of -35.33.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, equities analysts expect 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.