Lithium Americas (NYSE:LAC) Trading Up 2.7% – What’s Next?

Lithium Americas Corp. (NYSE:LAC) shares were up 2.7% on Tuesday . The stock traded as high as $3.11 and last traded at $3.09. Approximately 2,868,227 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 4,613,008 shares. The stock had previously closed at $3.01.

Analyst Upgrades and Downgrades

LAC has been the topic of several recent research reports. 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 initiated coverage on Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price for the company. Scotiabank decreased their price target on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. Finally, B. Riley lowered their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Lithium Americas Price Performance

The company has a 50-day simple moving average of $2.57 and a two-hundred day simple moving average of $3.29.

Lithium Americas (NYSE:LAC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). On average, equities research analysts forecast that Lithium Americas Corp. will post -0.09 EPS for the current fiscal year.

Institutional Trading of Lithium Americas

Large investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new stake in shares of Lithium Americas during the 1st quarter valued at about $25,000. Mather Group LLC. bought a new stake in Lithium Americas during the 1st quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Lithium Americas by 12.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock worth $112,000 after acquiring an additional 4,504 shares during the period. Cowen AND Company LLC raised its position in shares of Lithium Americas by 50.0% in the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock worth $40,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in shares of Lithium Americas by 100.0% in the 3rd 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 during the period.

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.