Lithium Americas (NYSE:LAC) Trading 0.5% Higher – What’s Next?

Shares of Lithium Americas Corp. (NYSE:LAC) traded up 0.5% during trading on Monday . The company traded as high as $3.76 and last traded at $3.74. 1,402,859 shares traded hands during 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 Analysts Forecast Growth

A number of research analysts have recently commented on the company. Scotiabank cut their price target on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. B. Riley upped their target price on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler assumed coverage on Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. Finally, BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.63.

Lithium Americas Trading Up 3.2 %

The firm has a 50-day moving average of $3.19 and a 200 day moving average of $3.05. The company has a market cap of $824.24 million and a P/E ratio of -31.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairscale Capital LLC bought a new position in shares of Lithium Americas in the second quarter valued at approximately $27,000. AE Wealth Management LLC purchased a new position in shares of Lithium Americas in the second quarter valued at $27,000. Evergreen Capital Management LLC purchased a new position in shares of Lithium Americas in the second quarter valued at $27,000. Quent Capital LLC boosted its stake in 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 buying an additional 5,000 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Lithium Americas during the second quarter valued at $30,000.

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.