Shares of Lithium Americas Corp. (NYSE:LAC – Get Free Report) traded up 6.4% during mid-day trading on Thursday . The company traded as high as $2.52 and last traded at $2.49. 2,122,344 shares changed hands during trading, a decline of 48% from the average session volume of 4,118,465 shares. The stock had previously closed at $2.34.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on LAC. Scotiabank lowered their target price on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a report on Thursday, August 15th. B. Riley decreased their price target on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Friday, August 16th. National Bank Financial raised shares of Lithium Americas to a “hold” rating in a report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. Finally, Piper Sandler initiated coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective for the company. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.61.
Read Our Latest Analysis on Lithium Americas
Lithium Americas Price Performance
Lithium Americas (NYSE:LAC – Get Free Report) last issued its 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 research analysts forecast that Lithium Americas Corp. will post -0.1 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Jump Financial LLC acquired a new position in Lithium Americas in the fourth quarter worth approximately $71,000. Vanguard Personalized Indexing Management LLC acquired a new position in Lithium Americas during the fourth quarter valued at approximately $66,000. Independent Advisor Alliance lifted its position in Lithium Americas by 98.9% during the 4th quarter. Independent Advisor Alliance now owns 23,660 shares of the company’s stock worth $151,000 after acquiring an additional 11,767 shares during the last quarter. Brown Advisory Inc. bought a new stake in Lithium Americas during the 4th quarter valued at approximately $644,000. Finally, Cowen AND Company LLC acquired a new stake in shares of Lithium Americas in the fourth quarter worth $64,000.
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.
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