Lithium Americas (NYSE:LAC) Shares Up 13.6% – Still a Buy?

Lithium Americas Corp. (NYSE:LAC)’s share price traded up 13.6% during mid-day trading on Monday . The company traded as high as $4.22 and last traded at $4.18. 9,898,562 shares traded hands during mid-day trading, an increase of 106% from the average session volume of 4,816,421 shares. The stock had previously closed at $3.68.

Analyst Upgrades and Downgrades

LAC has been the topic of several research analyst reports. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Scotiabank lowered their price target on 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. Deutsche Bank Aktiengesellschaft decreased their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Piper Sandler initiated coverage on shares of Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price for the company. Finally, B. Riley decreased their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Lithium Americas currently has an average rating of “Hold” and a consensus price target of $5.50.

Lithium Americas Stock Up 8.8 %

The company has a fifty day moving average of $2.72 and a 200-day moving average of $3.15.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, research analysts forecast that Lithium Americas Corp. will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new position in Lithium Americas in the second quarter valued at $27,000. AE Wealth Management LLC acquired a new stake in shares of Lithium Americas during the 2nd quarter worth about $27,000. Evergreen Capital Management LLC purchased a new stake in Lithium Americas during the second quarter worth approximately $27,000. Quent Capital LLC boosted its holdings in Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Lithium Americas in the second quarter valued at approximately $30,000.

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.