Lithium Americas (NYSE:LAC) Shares Up 0.8% – Here’s What Happened

Lithium Americas Corp. (NYSE:LAC)’s share price shot up 0.8% during trading on Monday . The stock traded as high as $4.15 and last traded at $4.00. 3,036,156 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 5,407,435 shares. The stock had previously closed at $3.97.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Piper Sandler started coverage on Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective for the company. Scotiabank lowered 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. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. Finally, National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.63.

Lithium Americas Stock Up 1.8 %

The business’s 50-day moving average is $3.27 and its two-hundred day moving average is $3.04. The stock has a market capitalization of $891.55 million and a PE ratio of -33.33.

Institutional Trading of Lithium Americas

Several institutional investors and hedge funds have recently made changes to their positions in LAC. Fairscale Capital LLC acquired a new position in Lithium Americas during the second quarter worth approximately $27,000. AE Wealth Management LLC acquired a new position in Lithium Americas in the 2nd quarter valued at about $27,000. Evergreen Capital Management LLC acquired a new stake in Lithium Americas during the 2nd quarter worth approximately $27,000. Quent Capital LLC grew its stake in shares of Lithium Americas by 100.0% in the 3rd 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 during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Lithium Americas in the 2nd quarter valued at $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.