Lithium Americas (NYSE:LAC) Stock Price Up 1.3% - Should You Buy?

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s stock price was up 1.3% during trading on Thursday . The company traded as high as $4.10 and last traded at $3.95. Approximately 5,287,575 shares traded hands during trading, a decline of 2% from the average daily volume of 5,416,549 shares. The stock had previously closed at $3.90.

Wall Street Analysts Forecast Growth

LAC has been the subject of a number of recent analyst reports. National Bank Financial upgraded Lithium Americas from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 17th. Scotiabank reduced their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating on the stock in a research note on Friday, October 18th. BMO Capital Markets raised shares of Lithium Americas to a "hold" rating in a research note on Wednesday, October 23rd. B. Riley raised their target price on Lithium Americas from $4.50 to $5.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Lithium Americas from $3.00 to $2.50 and set a "hold" 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 stock. According to data from MarketBeat.com, Lithium Americas currently has a consensus rating of "Hold" and an average target price of $5.63.

Lithium Americas Price Performance

The stock has a market capitalization of $871.71 million and a P/E ratio of -32.92. The firm has a 50-day simple moving average of $3.40 and a 200 day simple moving average of $3.05.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LAC. Renaissance Technologies LLC acquired a new stake in shares of Lithium Americas in the second quarter valued at about $520,000. Marshall Wace LLP acquired a new stake in Lithium Americas during the 2nd quarter valued at approximately $10,252,000. Merewether Investment Management LP bought a new position in Lithium Americas during the 2nd quarter worth approximately $858,000. Point72 Asset Management L.P. lifted its position in shares of Lithium Americas by 580.1% in 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 period. Finally, Teamwork Financial Advisors LLC increased its position in shares of 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 buying an additional 381,965 shares during the period.

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.