Lithium Americas (NYSE:LAC) Shares Up 2.7% – Time to Buy?

Lithium Americas Corp. (NYSE:LAC) shares shot up 2.7% during trading on Thursday . The stock traded as high as $5.26 and last traded at $5.1650. 10,724,936 shares were traded during trading, a decline of 10% from the average session volume of 11,904,239 shares. The stock had previously closed at $5.03.

Analyst Upgrades and Downgrades

Several brokerages have commented on LAC. Scotiabank cut their target price on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a report on Monday, April 6th. TD Securities raised Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Wedbush initiated coverage on Lithium Americas in a research report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.56.

Lithium Americas Trading Up 2.7%

The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $4.66 and a 200 day moving average of $4.90. The firm has a market cap of $1.81 billion, a PE ratio of -12.60 and a beta of 2.50.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.07. Equities analysts anticipate that Lithium Americas Corp. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas

Hedge funds and other institutional investors have recently bought and sold shares of the business. Main Street Group LTD bought a new stake in Lithium Americas during the 1st quarter valued at $26,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Lithium Americas by 149.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after purchasing an additional 3,550 shares during the period. IFP Advisors Inc increased its holdings in shares of Lithium Americas by 1,253.3% in the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock worth $28,000 after purchasing an additional 6,016 shares during the period. Quarry LP bought a new position in shares of Lithium Americas in the third quarter worth $28,000. Finally, Walleye Capital LLC bought a new position in shares of Lithium Americas in the second quarter worth $28,000.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.