Lithium Americas (NYSE:LAC) Trading Up 7.9% – Should You Buy?

Lithium Americas Corp. (NYSE:LAC)’s share price shot up 7.9% during mid-day trading on Thursday . The stock traded as high as $3.16 and last traded at $3.07. 2,741,838 shares were traded during trading, a decline of 42% from the average session volume of 4,699,246 shares. The stock had previously closed at $2.84.

Analyst Upgrades and Downgrades

LAC has been the subject of a number of research reports. Wedbush assumed coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They set a “neutral” rating and a $5.00 target price for the company. Piper Sandler cut their price objective on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Cormark upgraded Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Finally, B. Riley raised their price target on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.51.

Lithium Americas Trading Up 6.5 %

The stock has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $3.12. The firm has a market capitalization of $667.57 million, a P/E ratio of -25.21 and a beta of 1.77.

Institutional Trading of Lithium Americas

Hedge funds have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC lifted its position in shares of Lithium Americas by 46.2% in the 4th quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock worth $47,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC lifted its holdings in Lithium Americas by 21.6% during the third quarter. Geode Capital Management LLC now owns 103,275 shares of the company’s stock worth $279,000 after buying an additional 18,321 shares during the period. HB Wealth Management LLC bought a new stake in Lithium Americas during the 4th quarter valued at $55,000. Barclays PLC increased its holdings in shares of Lithium Americas by 50.7% in the 3rd quarter. Barclays PLC now owns 115,208 shares of the company’s stock valued at $311,000 after acquiring an additional 38,781 shares during the period. Finally, Independent Wealth Network Inc. raised its position in shares of Lithium Americas by 133.4% in the 4th quarter. Independent Wealth Network Inc. now owns 216,973 shares of the company’s stock worth $644,000 after acquiring an additional 123,993 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.