Lithium Americas (NYSE:LAC) Sees Large Volume Increase - Still a Buy?

Lithium Americas Corp. (NYSE:LAC - Get Free Report) saw strong trading volume on Monday . 4,065,344 shares traded hands during trading, a decline of 15% from the previous session's volume of 4,788,376 shares.The stock last traded at $4.01 and had previously closed at $3.68.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets raised shares of Lithium Americas to a "hold" rating in a research report on Wednesday, October 23rd. Scotiabank decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating for the company in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a "hold" rating for the company in a research report on Friday, August 16th. B. Riley decreased their price target on shares of Lithium Americas from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Friday, August 16th. Finally, National Bank Financial raised shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Lithium Americas currently has a consensus rating of "Hold" and an average price target of $5.50.

Lithium Americas Price Performance

The business's fifty day simple moving average is $2.65 and its 200 day simple moving average is $3.19.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its quarterly 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). Equities analysts expect that Lithium Americas Corp. will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Fairscale Capital LLC acquired a new position in shares of Lithium Americas in the 2nd quarter worth approximately $27,000. AE Wealth Management LLC acquired a new position in shares of Lithium Americas in the 2nd quarter worth approximately $27,000. Evergreen Capital Management LLC acquired a new position in shares of Lithium Americas in the 2nd quarter worth approximately $27,000. Quent Capital LLC grew its position in shares of Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company's stock worth $27,000 after acquiring an additional 5,000 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Lithium Americas in the 2nd quarter worth approximately $30,000.

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.