Lithium Americas (NYSE:LAC) Stock Price Up 5.4% - Here's What Happened

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s stock price rose 5.4% on Monday . The stock traded as high as $3.23 and last traded at $3.13. Approximately 2,324,329 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 5,375,304 shares. The stock had previously closed at $2.97.

Wall Street Analysts Forecast Growth

LAC has been the topic of several recent research reports. B. Riley upped their price objective on shares of Lithium Americas from $4.50 to $5.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Scotiabank reduced their price objective 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. BMO Capital Markets upgraded Lithium Americas to a "hold" rating in a research note on Wednesday, October 23rd. Wedbush began coverage on Lithium Americas in a research report on Thursday. They issued a "neutral" rating and a $5.00 price objective on the stock. Finally, National Bank Financial raised shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Lithium Americas presently has a consensus rating of "Hold" and a consensus target price of $5.56.

Lithium Americas Stock Up 6.7 %

The business's 50-day simple moving average is $3.66 and its two-hundred day simple moving average is $2.98. The firm has a market capitalization of $699.57 million and a price-to-earnings ratio of -26.42.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in Lithium Americas by 31.8% during the 3rd quarter. Tidal Investments LLC now owns 379,078 shares of the company's stock valued at $1,024,000 after acquiring an additional 91,353 shares during the period. Barclays PLC boosted its position in Lithium Americas by 50.7% in the 3rd quarter. Barclays PLC now owns 115,208 shares of the company's stock valued at $311,000 after buying an additional 38,781 shares during the period. Virtue Capital Management LLC purchased a new stake in shares of Lithium Americas during the third quarter worth $135,000. Geode Capital Management LLC boosted its holdings in Lithium Americas by 21.6% in the third quarter. Geode Capital Management LLC now owns 103,275 shares of the company's stock valued at $279,000 after purchasing an additional 18,321 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Lithium Americas during the 3rd quarter worth about $161,000.

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.