Lithium Americas (NYSE:LAC) Trading Up 6.9% - Still a Buy?

Lithium Americas Corp. (NYSE:LAC - Get Free Report) shot up 6.9% during trading on Thursday . The stock traded as high as $3.48 and last traded at $3.40. 4,848,134 shares traded hands during trading, an increase of 3% from the average session volume of 4,703,313 shares. The stock had previously closed at $3.18.

Analyst Ratings Changes

A number of equities analysts have issued reports on LAC shares. Scotiabank cut their price target on Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating on the stock in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on Lithium Americas from $3.00 to $2.50 and set a "hold" rating for the company in a report on Friday, August 16th. B. Riley cut their target price on 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 Lithium Americas from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 17th. Finally, 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 on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $5.50.

Lithium Americas Stock Up 7.5 %

The stock's fifty day moving average is $2.61 and its two-hundred day moving average is $3.27.

Lithium Americas (NYSE:LAC - Get Free Report) last issued 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). As a group, analysts predict that Lithium Americas Corp. will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in Lithium Americas during the first quarter valued at about $26,000. Banque Cantonale Vaudoise purchased a new position in Lithium Americas in the 1st quarter valued at approximately $25,000. Wealth Enhancement Advisory Services LLC grew its stake in Lithium Americas by 8.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company's stock valued at $1,627,000 after buying an additional 18,388 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in Lithium Americas during the 1st quarter valued at $101,000. Finally, Teamwork Financial Advisors LLC purchased a new stake in shares of Lithium Americas during the first quarter worth $68,000.

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.