Lithium Americas (NYSE:LAC) Shares Up 1.5% – Still a Buy?

Lithium Americas Corp. (NYSE:LAC)’s share price rose 1.5% on Wednesday . The company traded as high as $4.07 and last traded at $3.96. Approximately 1,689,634 shares changed hands during trading, a decline of 69% from the average daily volume of 5,399,795 shares. The stock had previously closed at $3.90.

Analyst Ratings Changes

Several brokerages recently commented on LAC. 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. B. Riley raised their price target 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. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Scotiabank dropped their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.63.

Lithium Americas Price Performance

The firm’s 50-day simple moving average is $3.40 and its 200 day simple moving average is $3.05.

Hedge Funds Weigh In On Lithium Americas

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in shares of Lithium Americas in the second quarter worth about $520,000. Marshall Wace LLP purchased a new position in Lithium Americas during the second quarter valued at approximately $10,252,000. Merewether Investment Management LP purchased a new position in Lithium Americas during the second quarter valued at approximately $858,000. Point72 Asset Management L.P. grew its stake in 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 valued at $4,977,000 after acquiring an additional 1,584,123 shares in the last quarter. Finally, Teamwork Financial Advisors LLC grew its stake 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 acquiring an additional 381,965 shares in the last quarter.

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.