Lithium Americas (NYSE:LAC) Sees Large Volume Increase – What’s Next?

Lithium Americas Corp. (NYSE:LAC) shares saw unusually-strong trading volume on Thursday . Approximately 7,148,761 shares changed hands during trading, an increase of 62% from the previous session’s volume of 4,404,211 shares.The stock last traded at $3.43 and had previously closed at $3.29.

Analysts Set New Price Targets

LAC has been the topic of a number of research analyst reports. Piper Sandler assumed coverage on Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. Deutsche Bank Aktiengesellschaft decreased 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. B. Riley dropped their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday. Finally, Scotiabank lowered their target price on Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Lithium Americas presently has an average rating of “Moderate Buy” and a consensus price target of $5.56.

Lithium Americas Trading Down 2.4 %

The stock has a fifty day moving average price of $2.52 and a two-hundred day moving average price of $3.40.

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

Hedge Funds Weigh In On Lithium Americas

Large investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise bought a new position in shares of Lithium Americas in the first quarter valued at approximately $25,000. Mather Group LLC. acquired a new stake in Lithium Americas in the first quarter worth approximately $26,000. Fairscale Capital LLC bought a new position in Lithium Americas during the 2nd quarter valued at $27,000. AE Wealth Management LLC acquired a new position in shares of Lithium Americas during the 2nd quarter valued at $27,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of Lithium Americas in the 2nd quarter worth $27,000.

Lithium Americas Company Profile

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.