Lithium Americas (NYSE:LAC) Sees Large Volume Increase

Lithium Americas Corp. (NYSE:LAC) saw strong trading volume on Friday . 1,708,488 shares were traded during trading, a decline of 55% from the previous session’s volume of 3,789,909 shares.The stock last traded at $4.85 and had previously closed at $4.66.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Scotiabank lowered Lithium Americas from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $15.00 to $7.00 in a report on Monday, March 18th. Evercore ISI decreased their target price on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.94.

Lithium Americas Trading Up 2.1 %

The stock’s fifty day simple moving average is $5.76 and its two-hundred day simple moving average is $6.45.

Lithium Americas (NYSE:LAC) last released its earnings results on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). On average, equities analysts predict that Lithium Americas Corp. will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

Several institutional investors have recently added to or reduced their stakes in the stock. General Motors Holdings LLC raised its stake in shares of Lithium Americas by 100.0% during the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock worth $190,829,000 after acquiring an additional 15,002,245 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Lithium Americas by 5,307.4% in the first quarter. Vanguard Group Inc. now owns 3,047,023 shares of the company’s stock valued at $117,280,000 after acquiring an additional 2,990,674 shares in the last quarter. Norges Bank bought a new stake in shares of Lithium Americas during the 4th quarter valued at $17,582,000. Goldman Sachs Group Inc. boosted its holdings in shares of Lithium Americas by 395.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,057,533 shares of the company’s stock valued at $6,768,000 after buying an additional 844,229 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Lithium Americas by 24.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock valued at $15,122,000 after buying an additional 461,635 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.