Lithium Americas (NYSE:LAC) Stock Price Up 5.4% – Still a Buy?

Shares of Lithium Americas Corp. (NYSE:LAC) traded up 5.4% on Monday . The company traded as high as $3.23 and last traded at $3.13. 2,324,329 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 5,375,304 shares. The stock had previously closed at $2.97.

Analyst Ratings Changes

LAC has been the subject of a number of recent analyst reports. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Wedbush initiated coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price objective for the company. B. Riley raised their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Finally, Scotiabank reduced their price objective 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. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.56.

Lithium Americas Stock Down 0.3 %

The company has a market capitalization of $697.36 million and a PE ratio of -26.33. The business has a 50 day simple moving average of $3.67 and a 200 day simple moving average of $2.98.

Institutional Trading of Lithium Americas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Lithium Americas by 69.8% in the second 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 during the last quarter. Marshall Wace LLP acquired a new stake in shares of Lithium Americas in the second quarter worth $10,252,000. Point72 Asset Management L.P. raised its holdings in shares of Lithium Americas by 580.1% during the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after purchasing an additional 1,584,123 shares during the last quarter. Teamwork Financial Advisors LLC lifted its position in Lithium Americas by 2,274.3% during the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after purchasing an additional 381,965 shares during the period. Finally, Tidal Investments LLC grew its position in Lithium Americas by 31.8% during the 3rd quarter. Tidal Investments LLC now owns 379,078 shares of the company’s stock worth $1,024,000 after purchasing an additional 91,353 shares during the period.

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.