Lithium Americas (NYSE:LAC) Shares Up 6.9%

Lithium Americas Corp. (NYSE:LAC) traded up 6.9% during trading on Tuesday . The company traded as high as $2.50 and last traded at $2.47. 1,508,948 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 4,067,422 shares. The stock had previously closed at $2.31.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. B. Riley dropped their target price on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. National Bank Financial upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, June 5th. Scotiabank cut their price objective on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lowered their price target 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, Piper Sandler began coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.61.

Lithium Americas Trading Up 6.9 %

The business’s fifty day simple moving average is $2.51 and its 200 day simple moving average is $3.80.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Equities analysts forecast that Lithium Americas Corp. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of Lithium Americas during the 4th quarter valued at $217,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Lithium Americas by 8.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock worth $1,627,000 after buying an additional 18,388 shares in the last quarter. General Motors Holdings LLC increased its position in shares of Lithium Americas by 100.0% during the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock valued at $190,829,000 after acquiring an additional 15,002,245 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Lithium Americas during the 1st quarter worth $202,000. Finally, Jump Financial LLC purchased a new stake in shares of Lithium Americas during the 4th quarter worth approximately $71,000.

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.