Lithium Americas (NYSE:LAC) Shares Gap Up – Time to Buy?

Lithium Americas Corp. (NYSE:LAC) shares gapped up prior to trading on Tuesday . The stock had previously closed at $3.41, but opened at $3.55. Lithium Americas shares last traded at $3.57, with a volume of 1,712,507 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Piper Sandler lowered their target price on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Scotiabank reduced their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday, October 18th. Wedbush started coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price objective on the stock. Finally, BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and an average price target of $5.51.

Lithium Americas Trading Up 2.1 %

The stock has a market capitalization of $767.98 million, a PE ratio of -29.00 and a beta of 1.67. The business has a fifty day moving average price of $3.63 and a 200-day moving average price of $3.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Evergreen Capital Management LLC bought a new position in shares of Lithium Americas during the 2nd quarter valued at $27,000. AE Wealth Management LLC purchased a new stake in Lithium Americas during the second quarter valued at about $27,000. Fairscale Capital LLC bought a new position in shares of Lithium Americas during the second quarter valued at about $27,000. Quent Capital LLC increased its holdings in shares of Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares during the period. Finally, Wedbush Securities Inc. purchased a new stake in Lithium Americas during the 2nd quarter valued at about $32,000.

Lithium Americas Company Profile

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.