Lithium Americas (NYSE:LAC) Trading 1.5% Higher – Still a Buy?

Lithium Americas Corp. (NYSE:LAC)’s share price traded up 1.5% during mid-day trading on Wednesday . The stock traded as high as $4.07 and last traded at $3.96. 1,689,634 shares traded hands during trading, a decline of 69% from the average session volume of 5,399,795 shares. The stock had previously closed at $3.90.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped 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 report on Friday, August 16th. B. Riley boosted their price objective on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Scotiabank lowered their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Lithium Americas presently has an average rating of “Hold” and an average target price of $5.63.

Lithium Americas Trading Up 1.3 %

The stock’s 50-day simple moving average is $3.40 and its 200-day simple moving average is $3.05.

Institutional Trading of Lithium Americas

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Creative Financial Designs Inc. ADV grew its position in shares of Lithium Americas by 39.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock worth $35,000 after buying an additional 3,693 shares during the period. National Bank of Canada FI grew its position in shares of Lithium Americas by 13.2% in the 3rd quarter. National Bank of Canada FI now owns 37,129 shares of the company’s stock worth $100,000 after buying an additional 4,340 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Lithium Americas by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock worth $112,000 after buying an additional 4,504 shares during the period. Cowen AND Company LLC grew its position in shares of Lithium Americas by 50.0% in the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock worth $40,000 after buying an additional 5,000 shares during the period. Finally, Quent Capital LLC grew its position in shares of Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares during the period.

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.