Lithium Americas (NYSE:LAC) Trading 0.7% Higher – Still a Buy?

Shares of Lithium Americas Corp. (NYSE:LAC) traded up 0.7% during trading on Monday . The stock traded as high as $4.30 and last traded at $4.30. 3,683,136 shares changed hands during trading, a decline of 29% from the average session volume of 5,182,975 shares. The stock had previously closed at $4.27.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler assumed coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. B. Riley decreased their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Finally, Scotiabank decreased 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 report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.50.

Lithium Americas Trading Down 1.6 %

The firm’s fifty day simple moving average is $2.81 and its 200 day simple moving average is $3.10.

Lithium Americas (NYSE:LAC) last released 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). Equities analysts forecast that Lithium Americas Corp. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

Several institutional investors and hedge funds have recently bought and sold shares of the business. Creative Financial Designs Inc. ADV increased its stake in Lithium Americas by 39.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock valued at $35,000 after buying an additional 3,693 shares during the period. Hedges Asset Management LLC grew its stake in Lithium Americas by 100.0% in the 3rd quarter. Hedges Asset Management LLC now owns 50,000 shares of the company’s stock valued at $135,000 after acquiring an additional 25,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Lithium Americas by 41.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock valued at $1,008,000 after acquiring an additional 108,993 shares during the last quarter. PFG Investments LLC purchased a new position in Lithium Americas in the 3rd quarter valued at about $90,000. Finally, Ballentine Partners LLC purchased a new position in Lithium Americas in the 3rd quarter valued at about $67,000.

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.