Lithium Americas (NYSE:LAC) Trading Up 0.5% - Still a Buy?

Lithium Americas Corp. (NYSE:LAC - Get Free Report) was up 0.5% on Monday . The stock traded as high as $3.76 and last traded at $3.74. Approximately 1,402,859 shares were traded during trading, a decline of 74% from the average daily volume of 5,405,691 shares. The stock had previously closed at $3.72.

Analysts Set New Price Targets

A number of research analysts have issued reports on LAC shares. Scotiabank lowered 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. National Bank Financial upgraded Lithium Americas from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 17th. BMO Capital Markets upgraded Lithium Americas to a "hold" rating in a research note on Wednesday, October 23rd. B. Riley boosted their price target on Lithium Americas from $4.50 to $5.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Finally, Piper Sandler assumed coverage on Lithium Americas in a research note on Monday, July 29th. They issued 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of "Hold" and a consensus price target of $5.63.

Lithium Americas Price Performance

The company has a market cap of $801.09 million and a PE ratio of -31.08. The business has a 50-day moving average of $3.13 and a 200 day moving average of $3.06.

Institutional Trading of Lithium Americas

Hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new position in shares of Lithium Americas in the second quarter worth about $10,252,000. Van ECK Associates Corp boosted its stake in shares of Lithium Americas by 69.8% in the second quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company's stock worth $10,591,000 after acquiring an additional 1,625,149 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Lithium Americas by 580.1% in the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company's stock worth $4,977,000 after acquiring an additional 1,584,123 shares during the period. Teamwork Financial Advisors LLC boosted its stake in shares of Lithium Americas by 2,274.3% in the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company's stock worth $1,077,000 after acquiring an additional 381,965 shares during the period. Finally, Merewether Investment Management LP bought a new position in shares of Lithium Americas in the second quarter worth about $858,000.

Lithium Americas Company Profile

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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