Lithium Americas (NYSE:LAC) Trading Up 1.3% – Should You Buy?

Lithium Americas Corp. (NYSE:LAC) shares traded up 1.3% during trading on Thursday . The stock traded as high as $4.10 and last traded at $3.95. 5,287,575 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 5,416,549 shares. The stock had previously closed at $3.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. B. Riley raised their price target on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Scotiabank dropped 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. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.63.

Lithium Americas Stock Performance

The company has a market capitalization of $880.51 million and a price-to-earnings ratio of -33.25. The business’s 50-day simple moving average is $3.43 and its 200-day simple moving average is $3.04.

Hedge Funds Weigh In On Lithium Americas

Several large investors have recently bought and sold shares of LAC. Creative Financial Designs Inc. ADV grew its holdings in Lithium Americas by 39.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock worth $35,000 after acquiring an additional 3,693 shares during the period. National Bank of Canada FI boosted its position in shares of Lithium Americas by 13.2% in the 3rd quarter. National Bank of Canada FI now owns 37,129 shares of the company’s stock worth $100,000 after purchasing an additional 4,340 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 purchasing an additional 4,504 shares during the period. Cowen AND Company LLC grew its stake in shares of Lithium Americas by 50.0% during 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 holdings 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 during the last quarter.

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.