Lithium Americas (NYSE:LAC) Sees Large Volume Increase - What's Next?

Lithium Americas Corp. (NYSE:LAC - Get Free Report) saw unusually-high trading volume on Monday . 1,628,309 shares changed 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 Analyst Weigh In

LAC has been the subject of several analyst reports. Wedbush began coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They issued a "neutral" rating and a $5.00 price objective for the company. National Bank Financial raised Lithium Americas from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 17th. Scotiabank decreased their target price on Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating for the company in a research note on Friday, October 18th. B. Riley raised their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets raised Lithium Americas to a "hold" rating in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Lithium Americas presently has a consensus rating of "Hold" and an average target price of $5.56.

Lithium Americas Trading Up 7.9 %

The company has a market cap of $754.74 million, a P/E ratio of -28.50 and a beta of 1.67. The stock's 50 day moving average is $3.64 and its 200-day moving average is $2.99.

Institutional Trading of Lithium Americas

Several institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP bought a new position in Lithium Americas in the second quarter worth approximately $10,252,000. Point72 Asset Management L.P. raised its position in shares of 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 worth $4,977,000 after purchasing an additional 1,584,123 shares during the last quarter. Teamwork Financial Advisors LLC boosted its position in Lithium Americas by 2,274.3% during the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company's stock worth $1,077,000 after acquiring an additional 381,965 shares during the last quarter. Tidal Investments LLC increased its position in Lithium Americas by 31.8% during the third quarter. Tidal Investments LLC now owns 379,078 shares of the company's stock worth $1,024,000 after purchasing an additional 91,353 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Lithium Americas by 41.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company's stock worth $1,008,000 after purchasing an additional 108,993 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.