Lithium Americas (NYSE:LAC) Sees Large Volume Increase - Should You Buy?

Lithium Americas Corp. (NYSE:LAC - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 8,153,375 shares traded hands during trading, an increase of 75% from the previous session's volume of 4,655,309 shares.The stock last traded at $3.12 and had previously closed at $2.87.

Analyst Upgrades and Downgrades

LAC has been the subject of several research analyst reports. National Bank Financial cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Wedbush restated a "neutral" rating and set a $5.00 price target on shares of Lithium Americas in a report on Friday, May 16th. Evercore ISI started coverage on Lithium Americas in a report on Thursday, April 17th. They set an "outperform" rating and a $4.50 price target for the company. National Bankshares cut Lithium Americas from an "outperform" rating to a "sector perform" rating in a report on Friday, May 16th. Finally, Scotiabank cut their price target on Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating for the company in a report on Monday, March 31st. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $3.88.

Lithium Americas Trading Down 4.1%

The firm has a market cap of $699.39 million, a price-to-earnings ratio of -19.91 and a beta of 0.69. The company has a fifty day moving average price of $2.78 and a 200-day moving average price of $2.88. The company has a current ratio of 10.35, a quick ratio of 10.35 and a debt-to-equity ratio of 0.02.

Lithium Americas (NYSE:LAC - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). As a group, research analysts expect that Lithium Americas Corp. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

A number of large investors have recently made changes to their positions in the stock. Cacti Asset Management LLC purchased a new position in Lithium Americas in the first quarter worth approximately $27,000. Members Wealth LLC purchased a new position in shares of Lithium Americas during the first quarter worth $27,000. Ping Capital Management Inc. purchased a new position in shares of Lithium Americas during the first quarter worth $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Lithium Americas during the first quarter worth $27,000. Finally, Mariner LLC purchased a new position in shares of Lithium Americas during the fourth quarter worth $31,000.

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.