Lithium Americas Corp. (NYSE:LAC – Get Free Report) shares traded up 2.7% during trading on Thursday . The company traded as high as $5.26 and last traded at $5.1650. 10,724,936 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 11,904,239 shares. The stock had previously closed at $5.03.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of Lithium Americas in a research note on Monday, February 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Scotiabank cut their price target on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research report on Monday, April 6th. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Finally, Wedbush started coverage on shares of Lithium Americas in a research report on Monday, April 20th. They set a “neutral” rating and a $8.00 price target for the company. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and an average price target of $5.56.
Read Our Latest Stock Report on LAC
Lithium Americas Trading Up 2.7%
Lithium Americas (NYSE:LAC – Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.07. Sell-side analysts anticipate that Lithium Americas Corp. will post -0.15 earnings per share for the current year.
Hedge Funds Weigh In On Lithium Americas
Several large investors have recently made changes to their positions in LAC. Main Street Group LTD bought a new stake in shares of Lithium Americas during the first quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Lithium Americas by 149.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after buying an additional 3,550 shares in the last quarter. IFP Advisors Inc lifted its stake in Lithium Americas by 1,253.3% in the 4th quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock worth $28,000 after purchasing an additional 6,016 shares in the last quarter. Quarry LP purchased a new stake in Lithium Americas in the 3rd quarter worth $28,000. Finally, Walleye Capital LLC purchased a new stake in Lithium Americas in the 2nd quarter worth $28,000.
About Lithium Americas
Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.
Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.
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