Lithium Americas (NYSE:LAC) Sees Strong Trading Volume – Still a Buy?

Shares of Lithium Americas Corp. (NYSE:LAC) saw an uptick in trading volume on Monday . 4,065,344 shares changed hands during mid-day trading, a decline of 15% from the previous session’s volume of 4,788,376 shares.The stock last traded at $4.01 and had previously closed at $3.68.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. B. Riley decreased their target price on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Friday, August 16th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Piper Sandler began coverage on shares of Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price on the stock. Finally, Scotiabank lowered their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.50.

Lithium Americas Stock Up 10.6 %

The firm’s 50 day moving average price is $2.65 and its 200-day moving average price is $3.19.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data 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, research analysts forecast that Lithium Americas Corp. will post -0.09 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors have recently modified their holdings of LAC. Northwestern Mutual Wealth Management Co. raised its position in Lithium Americas by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock worth $112,000 after buying an additional 4,504 shares during the last quarter. Cowen AND Company LLC raised its holdings in shares of Lithium Americas by 50.0% during the second quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock valued at $40,000 after purchasing an additional 5,000 shares during the last quarter. Quent Capital LLC lifted its position in Lithium Americas by 100.0% during the third 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. Vontobel Holding Ltd. boosted its holdings in Lithium Americas by 37.1% in the third quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company’s stock worth $59,000 after purchasing an additional 5,930 shares during the last quarter. Finally, Creative Planning grew its position in Lithium Americas by 21.8% in the 3rd quarter. Creative Planning now owns 33,276 shares of the company’s stock worth $90,000 after purchasing an additional 5,945 shares during the period.

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.