Lithium Americas (NYSE:LAC) Sees Large Volume Increase on Analyst Upgrade

Lithium Americas Corp. (NYSE:LAC) shares saw an uptick in trading volume on Tuesday after B. Riley raised their price target on the stock from $4.50 to $5.00. B. Riley currently has a buy rating on the stock. 4,612,033 shares traded hands during mid-day trading, a decline of 13% from the previous session’s volume of 5,325,384 shares.The stock last traded at $4.23 and had previously closed at $4.23.

Several other equities research analysts also recently issued reports on LAC. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler started coverage on Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. Scotiabank cut their price target on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, BMO Capital Markets raised Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.63.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LAC. Headlands Technologies LLC boosted its holdings in shares of Lithium Americas by 2,332.3% in the 1st quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock valued at $52,000 after buying an additional 7,370 shares during the last quarter. Fairscale Capital LLC bought a new stake in Lithium Americas during the second quarter worth $27,000. Quent Capital LLC lifted its stake in Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after acquiring an additional 5,000 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Lithium Americas during the 2nd quarter worth about $27,000. Finally, AE Wealth Management LLC bought a new stake in shares of Lithium Americas in the 2nd quarter valued at about $27,000.

Lithium Americas Trading Down 3.1 %

The firm has a market capitalization of $904.75 million and a price-to-earnings ratio of -34.33. The company’s 50 day moving average is $2.99 and its 200-day moving average is $3.08.

Lithium Americas (NYSE:LAC) last announced its 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). Research analysts expect that Lithium Americas Corp. will post -0.09 EPS for the current year.

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.