Lithium Americas (NYSE:LAC) Shares Up 1.3% – Here’s What Happened

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

Analyst Ratings Changes

Several brokerages recently issued reports on LAC. Scotiabank cut their price target on 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 shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced 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 note on Friday, August 16th. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Finally, B. Riley raised their target price on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas presently has an average rating of “Hold” and an average price target of $5.63.

Lithium Americas Trading Up 1.3 %

The company has a fifty day moving average price of $3.37 and a 200-day moving average price of $3.04. The firm has a market capitalization of $871.71 million and a price-to-earnings ratio of -32.92.

Hedge Funds Weigh In On Lithium Americas

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in Lithium Americas in the 2nd quarter worth $520,000. Marshall Wace LLP bought a new position in Lithium Americas in the 2nd quarter worth approximately $10,252,000. Merewether Investment Management LP acquired a new position in shares of Lithium Americas during the second quarter worth approximately $858,000. Point72 Asset Management L.P. boosted 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 valued at $4,977,000 after acquiring an additional 1,584,123 shares during the period. Finally, Teamwork Financial Advisors LLC grew its stake in shares of Lithium Americas by 2,274.3% in the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock worth $1,077,000 after acquiring an additional 381,965 shares during the last quarter.

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.