Lithium Americas (NYSE:LAC) Sees Strong Trading Volume – Here’s Why

Lithium Americas Corp. (NYSE:LAC) saw an uptick in trading volume on Thursday . 7,148,761 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 4,404,211 shares.The stock last traded at $3.43 and had previously closed at $3.29.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LAC. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Piper Sandler started coverage on shares of Lithium Americas in a report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective for the company. B. Riley lowered their target price on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Scotiabank lowered their price target on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday. Finally, National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Lithium Americas Stock Down 3.2 %

The firm’s fifty day moving average price is $2.55 and its 200 day moving average price is $3.37.

Lithium Americas (NYSE:LAC) last released its 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). Research analysts anticipate that Lithium Americas Corp. will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently modified their holdings of LAC. Banque Cantonale Vaudoise acquired a new stake in Lithium Americas during the first quarter worth approximately $25,000. Mather Group LLC. acquired a new stake in Lithium Americas during the 1st quarter worth $26,000. Northwestern Mutual Wealth Management Co. lifted its position in Lithium Americas by 12.0% in 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 boosted its stake in Lithium Americas by 50.0% in the second 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 in the last quarter. Finally, Quent Capital LLC boosted its stake in Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after acquiring an additional 5,000 shares in 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.