Lithium Americas (NYSE:LAC) Sees Large Volume Increase – Still a Buy?

Lithium Americas Corp. (NYSE:LAC) shares saw an uptick in trading volume on Monday . 1,628,309 shares traded hands during trading, a decline of 44% from the previous session’s volume of 2,929,663 shares.The stock last traded at $3.37 and had previously closed at $3.17.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LAC shares. Piper Sandler lowered their price target on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday. Wedbush assumed coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price target on the stock. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. B. Riley boosted their target price on Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.51.

Lithium Americas Stock Down 4.1 %

The stock has a fifty day moving average of $3.61 and a 200-day moving average of $3.00. The stock has a market capitalization of $726.05 million, a price-to-earnings ratio of -27.42 and a beta of 1.67.

Hedge Funds Weigh In On Lithium Americas

A number of hedge funds have recently modified their holdings of the business. Marshall Wace LLP purchased a new position in Lithium Americas during the 2nd quarter worth $10,252,000. Point72 Asset Management L.P. increased its holdings in Lithium Americas by 580.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after acquiring an additional 1,584,123 shares in the last quarter. Teamwork Financial Advisors LLC raised its position in shares of Lithium Americas by 2,274.3% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock worth $1,077,000 after purchasing an additional 381,965 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Lithium Americas by 31.8% in the third quarter. Tidal Investments LLC now owns 379,078 shares of the company’s stock worth $1,024,000 after acquiring an additional 91,353 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Lithium Americas by 41.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock worth $1,008,000 after buying an additional 108,993 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.