Lithium Americas (NYSE:LAC) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Lithium Americas Corp. (NYSE:LAC) saw an uptick in trading volume on Monday . 1,628,309 shares were traded during trading, a decline of 44% from the previous session’s volume of 2,929,663 shares.The stock last traded at $3.37 and had previously closed at $3.17.

Wall Street Analysts Forecast Growth

Several research firms have commented on LAC. Wedbush assumed coverage on shares of Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 target price on the stock. Scotiabank lowered their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 18th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. B. Riley lifted their price target on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.56.

Lithium Americas Stock Up 8.2 %

The stock has a market capitalization of $756.95 million, a price-to-earnings ratio of -28.58 and a beta of 1.67. The stock has a 50 day moving average price of $3.64 and a 200 day moving average price of $2.99.

Institutional Investors Weigh In On Lithium Americas

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