Lithium Americas (NYSE:LAC) Stock Price Up 5.4% – What’s Next?

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LAC shares. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. B. Riley increased their price objective on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Scotiabank cut their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. Finally, Wedbush initiated coverage on shares of Lithium Americas in a research note on Thursday. They set a “neutral” rating and a $5.00 price target on the stock. Seven equities 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 an average rating of “Hold” and an average target price of $5.56.

Lithium Americas Trading Up 5.7 %

The company has a market cap of $692.95 million and a price-to-earnings ratio of -26.17. The stock’s 50 day moving average price is $3.66 and its 200 day moving average price is $2.98.

Hedge Funds Weigh In On Lithium Americas

A number of large investors have recently bought and sold shares of LAC. Fairscale Capital LLC purchased a new stake in shares of Lithium Americas during the 2nd quarter valued at $27,000. AE Wealth Management LLC purchased a new stake in Lithium Americas during the second quarter valued at about $27,000. Evergreen Capital Management LLC purchased a new stake in Lithium Americas during the second quarter valued at about $27,000. Quent Capital LLC increased 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 worth $27,000 after acquiring an additional 5,000 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Lithium Americas in the 2nd quarter worth 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.