Lithium Americas (NYSE:LAC) Trading Down 1.3% - Time to Sell?

Lithium Americas Corp. (NYSE:LAC - Get Free Report) was down 1.3% during trading on Wednesday . The company traded as low as $3.58 and last traded at $3.69. Approximately 1,304,016 shares changed hands during trading, a decline of 76% from the average daily volume of 5,403,635 shares. The stock had previously closed at $3.74.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. 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 Lithium Americas to a "hold" rating in a research note on Wednesday, October 23rd. 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 report on Friday, August 16th. Piper Sandler initiated coverage on Lithium Americas in a research report on Monday, July 29th. They set a "neutral" rating and a $3.90 target price on the stock. Finally, B. Riley lifted their price target on Lithium Americas from $4.50 to $5.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Lithium Americas has a consensus rating of "Hold" and a consensus target price of $5.63.

Lithium Americas Stock Performance

The company has a market capitalization of $803.28 million and a PE ratio of -30.75. The business has a fifty day moving average price of $3.19 and a 200 day moving average price of $3.05.

Hedge Funds Weigh In On Lithium Americas

A number of hedge funds have recently made changes to their positions in LAC. Creative Financial Designs Inc. ADV grew its position in Lithium Americas by 39.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company's stock valued at $35,000 after acquiring an additional 3,693 shares in the last quarter. National Bank of Canada FI grew its holdings in Lithium Americas by 13.2% during the 3rd quarter. National Bank of Canada FI now owns 37,129 shares of the company's stock valued at $100,000 after purchasing an additional 4,340 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Lithium Americas by 12.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company's stock worth $112,000 after buying an additional 4,504 shares during the period. Cowen AND Company LLC lifted its holdings in Lithium Americas by 50.0% in the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company's stock worth $40,000 after buying an additional 5,000 shares in the last quarter. Finally, Quent Capital LLC boosted its position in Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company's stock valued at $27,000 after buying an additional 5,000 shares during 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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