Lithium Americas (NYSE:LAC) Trading 1.5% Higher – Time to Buy?

Lithium Americas Corp. (NYSE:LAC) shot up 1.5% during trading on Wednesday . The stock traded as high as $4.07 and last traded at $3.96. 1,689,634 shares traded hands during trading, a decline of 69% from the average session volume of 5,399,795 shares. The stock had previously closed at $3.90.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LAC shares. 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. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. B. Riley upped 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. Deutsche Bank Aktiengesellschaft decreased their price target on 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, Scotiabank reduced their target price 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. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Lithium Americas has a consensus rating of “Hold” and an average target price of $5.63.

Lithium Americas Stock Performance

The business’s 50 day moving average price is $3.34 and its 200 day moving average price is $3.03. The firm has a market cap of $875.02 million and a price-to-earnings ratio of -33.33.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its holdings in shares of Lithium Americas by 39.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock valued at $35,000 after acquiring an additional 3,693 shares during the last quarter. National Bank of Canada FI increased its position in shares of Lithium Americas by 13.2% during the third quarter. National Bank of Canada FI now owns 37,129 shares of the company’s stock worth $100,000 after purchasing an additional 4,340 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Lithium Americas by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock valued at $112,000 after purchasing an additional 4,504 shares during the last quarter. Cowen AND Company LLC lifted its holdings in Lithium Americas by 50.0% in the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock valued at $40,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares in the last quarter.

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.