Lithium Americas (NYSE:LAC) Stock Price Up 0.8% – What’s Next?

Lithium Americas Corp. (NYSE:LAC) shot up 0.8% during trading on Monday . The company traded as high as $4.15 and last traded at $4.00. 3,036,156 shares traded hands during trading, a decline of 44% from the average session volume of 5,407,435 shares. The stock had previously closed at $3.97.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. B. Riley increased 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 lowered 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 report on Friday, October 18th. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and a consensus target price of $5.63.

Lithium Americas Stock Performance

The business has a 50 day moving average of $3.34 and a 200-day moving average of $3.03. The company has a market capitalization of $875.02 million and a P/E ratio of -33.33.

Hedge Funds Weigh In On Lithium Americas

A number of large investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in Lithium Americas by 69.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock worth $10,591,000 after purchasing an additional 1,625,149 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Lithium Americas in the second quarter worth $10,252,000. Point72 Asset Management L.P. raised its position in shares of Lithium Americas by 580.1% in the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after buying an additional 1,584,123 shares in the last quarter. Teamwork Financial Advisors LLC boosted its stake in Lithium Americas by 2,274.3% during the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after buying an additional 381,965 shares during the period. Finally, Tidal Investments LLC grew its position in Lithium Americas by 31.8% during the third quarter. Tidal Investments LLC now owns 379,078 shares of the company’s stock worth $1,024,000 after buying an additional 91,353 shares in 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.