Lithium Americas Corp. (NYSE:LAC – Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 7,148,761 shares changed hands during trading, an increase of 62% from the previous session’s volume of 4,404,211 shares.The stock last traded at $3.43 and had previously closed at $3.29.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. Piper Sandler initiated coverage on shares of Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective for the company. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday. Scotiabank lowered their price target on Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a report on Thursday, August 15th. B. Riley reduced their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.56.
Lithium Americas Price Performance
Lithium Americas (NYSE:LAC – Get Free Report) last released 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). As a group, sell-side analysts anticipate that Lithium Americas Corp. will post -0.09 EPS for the current fiscal year.
Institutional Trading of Lithium Americas
Hedge funds and other institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new position in Lithium Americas in the first quarter valued at about $25,000. Mather Group LLC. acquired a new stake in Lithium Americas in the first quarter valued at $26,000. Fairscale Capital LLC bought a new position in Lithium Americas during the 2nd quarter valued at $27,000. AE Wealth Management LLC acquired a new position in Lithium Americas during the 2nd quarter worth $27,000. Finally, Evergreen Capital Management LLC acquired a new position in Lithium Americas during the 2nd quarter worth $27,000.
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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