Lithium Americas (NYSE:LAC) Shares Up 2.7% – Here’s What Happened

Lithium Americas Corp. (NYSE:LACGet Free Report) shares traded up 2.7% during trading on Tuesday . The stock traded as high as $5.07 and last traded at $5.00. 11,701,984 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 11,939,676 shares. The stock had previously closed at $4.87.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen raised Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Wedbush assumed coverage on Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 target price on the stock. Scotiabank reduced their target price on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a report on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Finally, Scotia reduced their target price on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a report on Monday. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and a consensus target price of $5.56.

Get Our Latest Report on LAC

Lithium Americas Stock Up 2.7%

The firm has a fifty day moving average price of $4.67 and a 200 day moving average price of $4.91. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -12.60 and a beta of 2.50.

Lithium Americas (NYSE:LACGet Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.07. Sell-side analysts anticipate that Lithium Americas Corp. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Lithium Americas by 20.8% during the 4th quarter. Van ECK Associates Corp now owns 17,495,908 shares of the company’s stock worth $76,282,000 after buying an additional 3,016,293 shares in the last quarter. Millennium Management LLC lifted its holdings in Lithium Americas by 35.8% during the 4th quarter. Millennium Management LLC now owns 4,489,568 shares of the company’s stock worth $19,575,000 after buying an additional 1,182,465 shares in the last quarter. Legal & General Group Plc lifted its holdings in Lithium Americas by 212.7% during the 4th quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after buying an additional 2,082,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Lithium Americas by 1.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock worth $7,350,000 after buying an additional 45,941 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Lithium Americas by 44.3% during the 3rd quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock worth $13,736,000 after buying an additional 739,007 shares in the last quarter.

Lithium Americas Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Lithium Americas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithium Americas and related companies with MarketBeat.com's FREE daily email newsletter.