Lithium Americas (NYSE:LAC) Trading 3.5% Higher – Here’s Why

Shares of Lithium Americas Corp. (NYSE:LAC) traded up 3.5% during trading on Friday . The stock traded as high as $3.62 and last traded at $3.53. 4,192,555 shares were traded during trading, a decline of 12% from the average session volume of 4,740,640 shares. The stock had previously closed at $3.41.

Analyst Ratings Changes

Several analysts recently commented on the stock. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday. 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 report on Friday, August 16th. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. 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 report on Friday, October 18th. Finally, Piper Sandler started coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.50.

Lithium Americas Stock Performance

The company’s fifty day moving average is $2.61 and its 200-day moving average is $3.27.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). On average, analysts anticipate that Lithium Americas Corp. will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors have recently made changes to their positions in LAC. Fairscale Capital LLC bought a new position in shares of Lithium Americas in the second quarter worth about $27,000. AE Wealth Management LLC bought a new position in shares of Lithium Americas in the second quarter worth about $27,000. Evergreen Capital Management LLC bought a new position in shares of Lithium Americas in the second quarter worth about $27,000. Quent Capital LLC increased its stake in shares of Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after purchasing an additional 5,000 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Lithium Americas in the second quarter worth about $30,000.

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.