Lithium Americas (NYSE:LAC) Shares Up 1% - Here's Why

Lithium Americas Corp. (NYSE:LAC - Get Free Report) shares were up 1% during mid-day trading on Tuesday . The company traded as high as $4.28 and last traded at $4.24. Approximately 2,051,683 shares were traded during trading, a decline of 61% from the average daily volume of 5,196,014 shares. The stock had previously closed at $4.20.

Analyst Ratings Changes

A number of research analysts have weighed in on LAC shares. Piper Sandler assumed coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a "neutral" rating and a $3.90 price target on the stock. Scotiabank cut their price objective on Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating on the stock in a research report on Friday, October 18th. BMO Capital Markets raised Lithium Americas to a "hold" rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Lithium Americas from $3.00 to $2.50 and set a "hold" rating on the stock in a report on Friday, August 16th. Finally, B. Riley decreased their price target on Lithium Americas from $4.50 to $4.00 and set a "buy" rating for the company in a report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $5.50.

Lithium Americas Stock Down 0.6 %

The business's 50 day moving average is $2.87 and its 200-day moving average is $3.09.

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

Institutional Trading of Lithium Americas

Several institutional investors have recently added to or reduced their stakes in LAC. Wolverine Asset Management LLC grew its stake in Lithium Americas by 3.7% during the 3rd quarter. Wolverine Asset Management LLC now owns 278,622 shares of the company's stock worth $752,000 after buying an additional 10,000 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Lithium Americas by 39.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company's stock valued at $35,000 after purchasing an additional 3,693 shares during the period. Hedges Asset Management LLC grew its position in Lithium Americas by 100.0% in the 3rd quarter. Hedges Asset Management LLC now owns 50,000 shares of the company's stock worth $135,000 after purchasing an additional 25,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lithium Americas by 41.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company's stock valued at $1,008,000 after purchasing an additional 108,993 shares during the period. Finally, PFG Investments LLC bought a new stake in shares of Lithium Americas during the third quarter valued at approximately $90,000.

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.