Lithium Americas (NYSE:LAC) Sees Strong Trading Volume

Lithium Americas Corp. (NYSE:LACGet Rating) saw unusually-high trading volume on Friday . Approximately 107,534 shares were traded during mid-day trading, a decline of 96% from the previous session’s volume of 2,431,471 shares.The stock last traded at $25.81 and had previously closed at $27.18.

Analyst Upgrades and Downgrades

LAC has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and set a $38.00 price target on shares of Lithium Americas in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target on Lithium Americas from $36.00 to $33.00 in a report on Wednesday, July 6th. Finally, Canaccord Genuity Group decreased their price objective on Lithium Americas from C$50.00 to C$49.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.91.

Lithium Americas Stock Down 5.2 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 44.14 and a current ratio of 44.14. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of -50.33 and a beta of 1.52. The firm has a fifty day moving average price of $27.71 and a 200 day moving average price of $26.59.

Lithium Americas (NYSE:LACGet Rating) last released its earnings results on Thursday, July 28th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. As a group, sell-side analysts expect that Lithium Americas Corp. will post -0.47 EPS for the current fiscal year.

Institutional Trading of Lithium Americas

A number of institutional investors have recently added to or reduced their stakes in LAC. Northern Oak Wealth Management Inc. lifted its position in shares of Lithium Americas by 169.5% during the 1st quarter. Northern Oak Wealth Management Inc. now owns 795 shares of the company’s stock valued at $31,000 after acquiring an additional 500 shares during the period. PNC Financial Services Group Inc. raised its holdings in 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 last quarter. Orion Capital Management LLC purchased a new stake in Lithium Americas during the first quarter worth $35,000. Clearstead Advisors LLC acquired a new stake in Lithium Americas in the first quarter valued at $38,000. Finally, Stonebridge Capital Advisors LLC purchased a new position in shares of Lithium Americas in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 23.73% of the company’s stock.

Lithium Americas Company Profile

(Get Rating)

Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.

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