Lithium Americas (NYSE:LAC) Sees Strong Trading Volume – Still a Buy?

Lithium Americas Corp. (NYSE:LAC) saw strong trading volume on Monday . 1,628,309 shares changed hands 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.

Analyst Ratings Changes

LAC has been the topic of a number of research reports. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. 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 upped their price target on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Piper Sandler cut their price objective on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Scotiabank reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Lithium Americas presently has an average rating of “Hold” and a consensus price target of $5.51.

Lithium Americas Trading Down 4.1 %

The company has a market cap of $726.05 million, a price-to-earnings ratio of -27.42 and a beta of 1.67. The stock has a 50-day simple moving average of $3.61 and a 200-day simple moving average of $3.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LAC. CIBC Asset Management Inc bought a new stake in shares of Lithium Americas during the 2nd quarter worth $97,000. TD Asset Management Inc boosted its stake in shares of Lithium Americas by 18.3% during the 2nd quarter. TD Asset Management Inc now owns 140,483 shares of the company’s stock worth $374,000 after acquiring an additional 21,759 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Lithium Americas by 147.0% during the 2nd quarter. National Bank of Canada FI now owns 32,789 shares of the company’s stock valued at $87,000 after acquiring an additional 19,514 shares during the last quarter. Koss Olinger Consulting LLC bought a new position in shares of Lithium Americas in the 2nd quarter valued at approximately $244,000. Finally, Wedbush Securities Inc. acquired a new stake in Lithium Americas in the 2nd quarter worth approximately $32,000.

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.