Lithium Americas (NYSE:LAC) Shares Up 0.8% – Should You Buy?

Lithium Americas Corp. (NYSE:LAC) shares were up 0.8% during mid-day trading on Monday . The stock traded as high as $4.15 and last traded at $4.00. Approximately 3,036,156 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 5,407,435 shares. The stock had previously closed at $3.97.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Piper Sandler assumed coverage on Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, Scotiabank reduced their target price on 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. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.63.

Lithium Americas Trading Up 1.8 %

The business has a fifty day simple moving average of $3.27 and a two-hundred day simple moving average of $3.04. The company has a market cap of $891.55 million and a PE ratio of -33.33.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently bought and sold shares of LAC. SG Americas Securities LLC purchased a new position in Lithium Americas in the 1st quarter worth approximately $69,000. Toronto Dominion Bank boosted its stake in Lithium Americas by 327.7% during the first quarter. Toronto Dominion Bank now owns 21,862 shares of the company’s stock worth $147,000 after buying an additional 16,751 shares during the last quarter. Tidal Investments LLC grew its holdings in Lithium Americas by 51.9% in the 1st quarter. Tidal Investments LLC now owns 253,303 shares of the company’s stock valued at $1,705,000 after buying an additional 86,570 shares in the last quarter. Virtu Financial LLC increased its stake in shares of Lithium Americas by 83.4% in the 1st quarter. Virtu Financial LLC now owns 62,252 shares of the company’s stock worth $418,000 after acquiring an additional 28,305 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Lithium Americas by 9.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 264,387 shares of the company’s stock worth $709,000 after acquiring an additional 22,313 shares during the last quarter.

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.