Lithium Americas (NYSE:LAC) Trading Up 6.9%

Lithium Americas Corp. (NYSE:LAC - Get Free Report) shares were up 6.9% during trading on Tuesday . The stock traded as high as $2.50 and last traded at $2.47. Approximately 1,508,948 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 4,067,422 shares. The stock had previously closed at $2.31.

Analyst Ratings Changes

Several analysts recently commented on LAC shares. B. Riley cut their price objective on Lithium Americas from $4.50 to $4.00 and set a "buy" rating for the company in a report on Friday, August 16th. Piper Sandler started coverage on Lithium Americas in a report on Monday, July 29th. They issued a "neutral" rating and a $3.90 price objective for the company. Scotiabank cut their price objective on Lithium Americas from $5.50 to $3.00 and set a "sector perform" rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft cut their price target on Lithium Americas from $3.00 to $2.50 and set a "hold" rating for the company in a report on Friday, August 16th. Finally, National Bank Financial raised Lithium Americas to a "hold" rating in a report on Wednesday, June 5th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Lithium Americas has a consensus rating of "Moderate Buy" and a consensus target price of $6.61.

Lithium Americas Price Performance

The company has a 50-day moving average price of $2.49 and a 200 day moving average price of $3.78.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). As a group, sell-side analysts predict that Lithium Americas Corp. will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise purchased a new stake in Lithium Americas during the first quarter valued at approximately $25,000. Mather Group LLC. purchased a new stake in Lithium Americas during the first quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. raised its position in Lithium Americas by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company's stock valued at $112,000 after purchasing an additional 4,504 shares during the period. Cowen AND Company LLC raised its position in Lithium Americas by 50.0% during the second quarter. Cowen AND Company LLC now owns 15,000 shares of the company's stock valued at $40,000 after purchasing an additional 5,000 shares during the period. Finally, Quent Capital LLC purchased a new stake in Lithium Americas during the first quarter valued at approximately $48,000.

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.