Lithium Americas (NYSE:LAC) Stock Price Up 3% - Still a Buy?

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price traded up 3% during trading on Thursday . The company traded as high as $3.90 and last traded at $3.76. 2,394,213 shares were traded during mid-day trading, a decline of 56% from the average session volume of 5,403,049 shares. The stock had previously closed at $3.65.

Wall Street Analysts Forecast Growth

LAC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Lithium Americas from $3.00 to $2.50 and set a "hold" rating for the company in a research note on Friday, August 16th. B. Riley raised their price target on Lithium Americas from $4.50 to $5.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. BMO Capital Markets raised shares of Lithium Americas to a "hold" rating in a report on Wednesday, October 23rd. Scotiabank cut their target price 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. Finally, Piper Sandler started 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 for the company. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.63.

Lithium Americas Stock Performance

The stock has a 50-day moving average price of $3.21 and a two-hundred day moving average price of $3.06. The stock has a market capitalization of $856.24 million and a PE ratio of -31.33.

Hedge Funds Weigh In On Lithium Americas

Several institutional investors have recently bought and sold shares of LAC. Fairscale Capital LLC bought a new position in Lithium Americas during the second quarter valued at $27,000. AE Wealth Management LLC purchased a new stake in shares of Lithium Americas during the second quarter valued at $27,000. Evergreen Capital Management LLC purchased a new stake in Lithium Americas in the second quarter worth about $27,000. Quent Capital LLC lifted its stake in Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company's stock worth $27,000 after acquiring an additional 5,000 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Lithium Americas in the second quarter worth about $30,000.

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.

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