Lithium Americas (NYSE:LAC) Shares Up 13.5% – Still a Buy?

Lithium Americas Corp. (NYSE:LAC)’s stock price traded up 13.5% on Tuesday . The company traded as high as $5.20 and last traded at $4.70. 26,810,576 shares changed hands during trading, an increase of 437% from the average session volume of 4,989,949 shares. The stock had previously closed at $4.14.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. BMO Capital Markets raised Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Scotiabank reduced their price objective on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. Piper Sandler began coverage on Lithium Americas in a report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective on the stock. Finally, B. Riley dropped their target price on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.50.

Lithium Americas Price Performance

The stock’s fifty day moving average is $2.75 and its 200-day moving average is $3.16.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, research analysts expect that Lithium Americas Corp. will post -0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAC. Creative Financial Designs Inc. ADV increased its position in shares of Lithium Americas by 39.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock worth $35,000 after purchasing an additional 3,693 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Lithium Americas by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock valued at $112,000 after acquiring an additional 4,504 shares during the last quarter. Cowen AND Company LLC raised its stake 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 valued at $40,000 after acquiring an additional 5,000 shares during the period. Quent Capital LLC lifted its holdings 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 acquiring an additional 5,000 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Lithium Americas by 37.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company’s stock worth $59,000 after acquiring an additional 5,930 shares during 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.