Lithium Americas (NYSE:LAC) Shares Up 8.5%

Lithium Americas Corp. (NYSE:LACGet Free Report) shares were up 8.5% during trading on Wednesday . The company traded as high as $5.39 and last traded at $5.38. Approximately 625,053 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 2,674,781 shares. The stock had previously closed at $4.96.

Analysts Set New Price Targets

Several research analysts recently weighed in on LAC shares. JPMorgan Chase & Co. cut their target price on Lithium Americas from $7.00 to $5.50 and set a “neutral” rating for the company in a research note on Thursday, February 8th. National Bank Financial began coverage on Lithium Americas in a research report on Wednesday, November 15th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.13.

View Our Latest Report on Lithium Americas

Lithium Americas Stock Down 0.5 %

The stock has a 50 day simple moving average of $4.94 and a two-hundred day simple moving average of $8.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LAC. IFP Advisors Inc grew its stake in shares of Lithium Americas by 18.8% in the 2nd quarter. IFP Advisors Inc now owns 5,435 shares of the company’s stock valued at $29,000 after purchasing an additional 859 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Lithium Americas by 725.0% during the first quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after purchasing an additional 725 shares during the period. Allworth Financial LP purchased a new position in Lithium Americas in the 4th quarter valued at $37,000. CWM LLC increased its stake in Lithium Americas by 140.6% in the 3rd quarter. CWM LLC now owns 2,327 shares of the company’s stock valued at $40,000 after buying an additional 1,360 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Lithium Americas in the 1st quarter valued at $42,000. 27.28% of the stock is owned by hedge funds and other institutional investors.

Lithium Americas Company Profile

(Get Free Report)

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. The company was incorporated in 2023 and is headquartered in Vancouver, Canada.

Further Reading

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