Lithium Americas (NYSE:LAC) Sees Large Volume Increase

Shares of Lithium Americas Corp. (NYSE:LAC) saw an uptick in trading volume on Friday . 1,708,488 shares traded hands during mid-day trading, a decline of 55% from the previous session’s volume of 3,789,909 shares.The stock last traded at $4.85 and had previously closed at $4.66.

Analyst Upgrades and Downgrades

LAC has been the topic of several recent analyst reports. Evercore ISI dropped their price objective on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Scotiabank lowered Lithium Americas from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $15.00 to $7.00 in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.94.

Lithium Americas Stock Up 2.1 %

The stock’s fifty day moving average price is $5.76 and its 200-day moving average price is $6.45.

Lithium Americas (NYSE:LAC) last released its earnings results on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). As a group, analysts forecast that Lithium Americas Corp. will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Legal & General Group Plc boosted its holdings in Lithium Americas by 0.6% during the fourth quarter. Legal & General Group Plc now owns 65,285 shares of the company’s stock worth $1,237,000 after buying an additional 410 shares during the last quarter. CIBC Asset Management Inc raised its position in Lithium Americas by 0.7% in the 2nd quarter. CIBC Asset Management Inc now owns 98,379 shares of the company’s stock valued at $1,992,000 after buying an additional 644 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Lithium Americas by 725.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock valued at $32,000 after buying an additional 725 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Lithium Americas by 16.8% in the first quarter. Great West Life Assurance Co. Can now owns 5,414 shares of the company’s stock valued at $222,000 after purchasing an additional 780 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Lithium Americas by 224.9% in the first quarter. Captrust Financial Advisors now owns 1,212 shares of the company’s stock valued at $47,000 after purchasing an additional 839 shares in 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.