Lithium Americas (NYSE:LAC) Shares Up 5.4% – Time to Buy?

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LAC shares. B. Riley increased their price objective 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. Scotiabank cut their price objective on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday, October 18th. Wedbush initiated coverage on Lithium Americas in a research report on Thursday. They issued a “neutral” rating and a $5.00 target price for the company. Finally, National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.56.

Lithium Americas Price Performance

The business has a fifty day moving average of $3.66 and a 200 day moving average of $2.98. The stock has a market cap of $692.95 million and a PE ratio of -26.17.

Institutional Trading of Lithium Americas

Several institutional investors have recently added to or reduced their stakes in the stock. Fairscale Capital LLC bought a new stake in shares of Lithium Americas in the 2nd quarter worth about $27,000. AE Wealth Management LLC bought a new stake in Lithium Americas in the second quarter valued at about $27,000. Evergreen Capital Management LLC acquired a new stake in Lithium Americas during the second quarter valued at approximately $27,000. Quent Capital LLC lifted its holdings in Lithium Americas by 100.0% during the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Lithium Americas in the 2nd quarter worth approximately $30,000.

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.