Lithium Americas (NYSE:LAC) Trading 1.3% Higher – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on LAC shares. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. B. Riley upped their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. 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 note on Friday, October 18th. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price 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. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.63.

Lithium Americas Stock Up 1.3 %

The firm has a market cap of $871.71 million and a PE ratio of -32.92. The firm’s 50 day moving average is $3.37 and its 200-day moving average is $3.04.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors have recently bought and sold shares of LAC. Tidal Investments LLC boosted its holdings in Lithium Americas by 31.8% in the 3rd quarter. Tidal Investments LLC now owns 379,078 shares of the company’s stock worth $1,024,000 after acquiring an additional 91,353 shares during the period. Barclays PLC raised its holdings in Lithium Americas by 50.7% in the third quarter. Barclays PLC now owns 115,208 shares of the company’s stock valued at $311,000 after acquiring an additional 38,781 shares in the last quarter. Virtue Capital Management LLC bought a new position in Lithium Americas during the 3rd quarter valued at $135,000. Geode Capital Management LLC lifted its position in shares of Lithium Americas by 21.6% during the third quarter. Geode Capital Management LLC now owns 103,275 shares of the company’s stock worth $279,000 after purchasing an additional 18,321 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Lithium Americas in the third quarter valued at about $161,000.

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.