Investors Buy Large Volume of Lithium Americas Call Options (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC - Get Free Report) saw unusually large options trading activity on Monday. Traders purchased 7,100 call options on the stock. This represents an increase of 80% compared to the average volume of 3,951 call options.

Lithium Americas Trading Up 12.5 %

LAC stock traded up $0.46 during trading on Monday, hitting $4.14. 23,548,488 shares of the stock traded hands, compared to its average volume of 4,877,360. Lithium Americas has a one year low of $2.02 and a one year high of $7.86. The company has a 50 day simple moving average of $2.65 and a 200 day simple moving average of $3.19.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Research analysts forecast that Lithium Americas will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in Lithium Americas by 69.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company's stock valued at $10,591,000 after acquiring an additional 1,625,149 shares in the last quarter. Marshall Wace LLP acquired a new stake in Lithium Americas in the 2nd quarter valued at about $10,252,000. Point72 Asset Management L.P. increased its position in 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 valued at $4,977,000 after acquiring an additional 1,584,123 shares in the last quarter. Teamwork Financial Advisors LLC increased its position in Lithium Americas by 2,274.3% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company's stock valued at $1,077,000 after acquiring an additional 381,965 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Lithium Americas by 41.2% in the 3rd 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.

Analysts Set New Price Targets

LAC has been the topic of several research analyst reports. Scotiabank decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating on the stock in a research report on Friday, October 18th. B. Riley decreased their price target 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. National Bank Financial raised shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 17th. Piper Sandler assumed coverage on shares of Lithium Americas in a report on Monday, July 29th. They set a "neutral" rating and a $3.90 price objective for the company. Finally, BMO Capital Markets raised shares of Lithium Americas to a "hold" rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $5.50.

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.