Lithium Americas (NYSE:LAC) Stock Price Up 7.9% – Here’s Why

Lithium Americas Corp. (NYSE:LAC)’s share price traded up 7.9% during mid-day trading on Thursday . The stock traded as high as $3.16 and last traded at $3.07. 2,741,838 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 4,699,246 shares. The stock had previously closed at $2.84.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. B. Riley raised their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Wedbush assumed coverage on shares of Lithium Americas in a report on Thursday, December 19th. They set a “neutral” rating and a $5.00 target price for the company. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.51.

Lithium Americas Trading Up 1.1 %

The firm has a market cap of $680.81 million, a PE ratio of -25.71 and a beta of 1.77. The company’s 50-day moving average is $3.06 and its 200 day moving average is $3.13.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds have recently made changes to their positions in LAC. Quinn Opportunity Partners LLC lifted its position in shares of Lithium Americas by 1,132.5% in the 4th quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company’s stock valued at $2,411,000 after acquiring an additional 745,777 shares in the last quarter. Decade Renewable Partners LP purchased a new stake in Lithium Americas in the 4th quarter worth approximately $1,331,000. HITE Hedge Asset Management LLC lifted its position in Lithium Americas by 150.9% in the 4th quarter. HITE Hedge Asset Management LLC now owns 731,473 shares of the company’s stock worth $2,172,000 after buying an additional 439,974 shares in the last quarter. Teamwork Financial Advisors LLC lifted its position in Lithium Americas by 79.2% in the 4th quarter. Teamwork Financial Advisors LLC now owns 714,381 shares of the company’s stock worth $2,122,000 after buying an additional 315,621 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Lithium Americas by 8.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,254,848 shares of the company’s stock worth $9,732,000 after buying an additional 240,418 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.