Lithium Americas (NYSE:LAC) Trading 3.9% Higher - Here's Why

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price traded up 3.9% during trading on Tuesday . The stock traded as high as $3.81 and last traded at $3.76. 2,712,092 shares were traded during mid-day trading, a decline of 50% from the average session volume of 5,408,240 shares. The stock had previously closed at $3.62.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Scotiabank decreased their target price on 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. National Bank Financial raised shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 17th. BMO Capital Markets upgraded shares of Lithium Americas to a "hold" rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, Piper Sandler began coverage on Lithium Americas in a research note on Monday, July 29th. They issued a "neutral" rating and a $3.90 price objective on the stock. Six 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, the company has a consensus rating of "Hold" and an average price target of $5.63.

Lithium Americas Trading Up 3.3 %

The firm has a market capitalization of $825.34 million and a P/E ratio of -31.33. The firm has a 50 day moving average price of $3.16 and a 200-day moving average price of $3.06.

Hedge Funds Weigh In On Lithium Americas

A number of large investors have recently made changes to their positions in LAC. Van ECK Associates Corp boosted its position in shares of Lithium Americas by 69.8% during the second quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company's stock valued at $10,591,000 after buying an additional 1,625,149 shares during the period. Marshall Wace LLP purchased a new position in shares of Lithium Americas during the second quarter worth approximately $10,252,000. Point72 Asset Management L.P. raised its position in 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 valued at $4,977,000 after purchasing an additional 1,584,123 shares in the last quarter. Teamwork Financial Advisors LLC increased its stake 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 valued at $1,077,000 after buying an additional 381,965 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings 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 acquiring an additional 108,993 shares in the last quarter.

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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