Lithium Americas (NYSE:LAC) Shares Up 5.4% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LAC. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Wedbush initiated coverage on Lithium Americas in a report on Thursday, December 19th. They set a “neutral” rating and a $5.00 target price on the stock. B. Riley raised their target price on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Finally, Scotiabank dropped their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.56.

Lithium Americas Stock Down 0.3 %

The firm’s fifty day simple moving average is $3.67 and its two-hundred day simple moving average is $2.98. The firm has a market cap of $697.36 million and a PE ratio of -26.33.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds have recently made changes to their positions in the company. Fairscale Capital LLC purchased a new stake in shares of Lithium Americas during the 2nd quarter worth approximately $27,000. Quent Capital LLC raised its stake in Lithium Americas by 100.0% during 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. Evergreen Capital Management LLC bought a new position in Lithium Americas during the second quarter valued at $27,000. AE Wealth Management LLC purchased a new position in shares of Lithium Americas in the 2nd quarter worth $27,000. Finally, International Assets Investment Management LLC bought a new position in shares of Lithium Americas in the 2nd quarter valued at about $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.