Lithium Americas (NYSE:LAC) Trading Up 3.3% - Should You Buy?

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price was up 3.3% during trading on Thursday . The company traded as high as $4.10 and last traded at $4.08. Approximately 2,195,465 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 5,247,797 shares. The stock had previously closed at $3.95.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LAC. Scotiabank cut their target price 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. Piper Sandler started coverage on Lithium Americas in a research report on Monday, July 29th. They set a "neutral" rating and a $3.90 price target on the stock. National Bank Financial raised Lithium Americas from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 17th. BMO Capital Markets raised shares of Lithium Americas to a "hold" rating in a research report on Wednesday, October 23rd. Finally, B. Riley lowered their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a "buy" rating on the stock in a research report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Lithium Americas currently has a consensus rating of "Hold" and a consensus target price of $5.50.

Lithium Americas Trading Up 3.5 %

The business has a fifty day moving average price of $2.90 and a 200 day moving average price of $3.10.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. Equities research analysts anticipate that Lithium Americas Corp. will post -0.09 EPS for the current year.

Institutional Trading of Lithium Americas

Several institutional investors have recently modified their holdings of LAC. Renaissance Technologies LLC acquired a new stake in Lithium Americas in the 2nd quarter valued at $520,000. Marshall Wace LLP acquired a new stake in shares of Lithium Americas in the 2nd quarter valued at $10,252,000. Merewether Investment Management LP bought a new position in Lithium Americas during the 2nd quarter valued at about $858,000. Point72 Asset Management L.P. increased its holdings 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. Finally, BNP Paribas Financial Markets bought a new stake in shares of Lithium Americas during the first quarter worth $202,000.

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.

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