Lithium Americas (NYSE:LAC) Sees Strong Trading Volume

Lithium Americas Corp. (NYSE:LACGet Rating) saw unusually-strong trading volume on Friday . Approximately 107,534 shares were traded during trading, a decline of 96% from the previous session’s volume of 2,431,471 shares.The stock last traded at $25.81 and had previously closed at $27.18.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lithium Americas from $36.00 to $33.00 in a research report on Wednesday, July 6th. Canaccord Genuity Group dropped their target price on Lithium Americas from C$50.00 to C$49.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $38.00 price target on shares of Lithium Americas in a research note on Tuesday. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.91.

Lithium Americas Stock Performance

The firm’s 50 day moving average is $27.71 and its 200-day moving average is $26.59. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -50.33 and a beta of 1.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 44.14 and a current ratio of 44.14.

Lithium Americas (NYSE:LACGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. Analysts forecast that Lithium Americas Corp. will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Tradewinds Capital Management LLC raised its stake in Lithium Americas by 270.6% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,260 shares of the company’s stock valued at $25,000 after purchasing an additional 920 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in Lithium Americas in the 4th quarter valued at about $29,000. Northern Oak Wealth Management Inc. lifted its stake in Lithium Americas by 169.5% in the 1st quarter. Northern Oak Wealth Management Inc. now owns 795 shares of the company’s stock worth $31,000 after purchasing an additional 500 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Lithium Americas by 725.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after purchasing an additional 725 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in Lithium Americas by 54.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,648 shares of the company’s stock valued at $33,000 after buying an additional 580 shares in the last quarter. Institutional investors and hedge funds own 23.73% of the company’s stock.

Lithium Americas Company Profile

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Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.

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