Lithium Americas (NYSE:LAC) Now Covered by Wedbush

Wedbush began coverage on shares of Lithium Americas (NYSE:LAC - Free Report) in a report issued on Thursday, MarketBeat Ratings reports. The firm issued a neutral rating and a $5.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets raised Lithium Americas to a "hold" rating in a report on Wednesday, October 23rd. National Bank Financial raised Lithium Americas from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 17th. B. Riley raised their price objective on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Scotiabank dropped their target price on 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. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Lithium Americas currently has a consensus rating of "Hold" and an average target price of $5.56.

Lithium Americas Stock Up 0.3 %

NYSE LAC traded up $0.01 on Thursday, reaching $2.94. 4,409,813 shares of the stock traded hands, compared to its average volume of 5,392,852. The company has a market cap of $648.81 million and a price-to-earnings ratio of -24.50. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.71. The firm's fifty day simple moving average is $3.65 and its 200 day simple moving average is $2.99.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LAC. SG Americas Securities LLC raised its position in shares of Lithium Americas by 131.1% in the 2nd quarter. SG Americas Securities LLC now owns 23,751 shares of the company's stock worth $64,000 after purchasing an additional 13,472 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lithium Americas by 9.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 264,387 shares of the company's stock valued at $709,000 after purchasing an additional 22,313 shares during the period. International Assets Investment Management LLC purchased a new stake in Lithium Americas in the second quarter worth about $30,000. Van ECK Associates Corp boosted its holdings in shares of 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 buying an additional 1,625,149 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in shares of Lithium Americas during the second quarter valued at $97,000.

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.