Lithium Americas Corp. (NYSE:LAC) Sees Significant Growth in Short Interest

Lithium Americas Corp. (NYSE:LAC) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 21,890,000 shares, an increase of 14.4% from the July 15th total of 19,140,000 shares. Currently, 11.8% of the company’s stock are sold short. Based on an average trading volume of 4,530,000 shares, the days-to-cover ratio is currently 4.8 days.

Institutional Trading of Lithium Americas

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Lithium Americas in the fourth quarter valued at $71,000. Mackenzie Financial Corp boosted its position in shares of Lithium Americas by 28.6% during the 4th quarter. Mackenzie Financial Corp now owns 257,589 shares of the company’s stock valued at $1,653,000 after acquiring an additional 57,232 shares in the last quarter. Panview Asian Equity Master Fund acquired a new stake in shares of Lithium Americas during the 4th quarter valued at about $1,911,000. Parametrica Management Ltd bought a new stake in Lithium Americas in the fourth quarter valued at about $68,000. Finally, Intact Investment Management Inc. acquired a new position in Lithium Americas in the fourth quarter worth about $595,000.

Lithium Americas Stock Performance

Shares of NYSE:LAC traded up $0.18 on Friday, hitting $2.57. 5,176,600 shares of the company were exchanged, compared to its average volume of 4,234,666. The company’s 50 day moving average price is $2.67 and its two-hundred day moving average price is $4.19. Lithium Americas has a one year low of $2.02 and a one year high of $12.38.

Wall Street Analysts Forecast Growth

LAC has been the topic of a number of recent analyst reports. Eight Capital cut their price objective on Lithium Americas from $13.50 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 14th. Scotiabank dropped their price target on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research report on Thursday. B. Riley decreased their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday. Finally, National Bank Financial raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, June 5th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.61.

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.