Lithium Americas (NYSE:LAC) Sees Strong Trading Volume - Here's Why

Key Points

• Lithium Americas Corp. experienced a significant increase in trading volume, rising 277% to approximately 32.9 million shares traded on Friday, with the stock trading at $6.69 after closing at $7.37.
• Analysts have adjusted their price targets for LAC, with Jefferies lowering it from $8.00 to $7.00, and TD Securities reducing their rating from "buy" to "hold" with a target of $5.00.
• The company recently reported a quarterly loss of ($0.06) EPS, missing the consensus estimate, and has an average analyst rating of "Hold" with a consensus target price of $4.72.

Lithium Americas Corp. (NYSE:LAC - Get Free Report) saw unusually-high trading volume on Friday . Approximately 32,943,374 shares were traded during mid-day trading, an increase of 277% from the previous session's volume of 8,747,319 shares.The stock last traded at $6.69 and had previously closed at $7.37.

Analysts Set New Price Targets

LAC has been the topic of a number of analyst reports. Jefferies Financial Group dropped their price target on Lithium Americas from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday. TD Securities lowered Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 target price for the company. in a report on Thursday. TD Cowen restated a "hold" rating and issued a $5.00 target price on shares of Lithium Americas in a report on Thursday. Cowen lowered Lithium Americas from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, Cormark upgraded Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of "Hold" and a consensus target price of $4.72.

Lithium Americas Stock Down 13.8%

The business has a 50-day simple moving average of $3.07 and a two-hundred day simple moving average of $2.89. The stock has a market capitalization of $1.53 billion, a P/E ratio of -27.50 and a beta of 0.70. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Equities research analysts forecast that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

Several institutional investors and hedge funds have recently modified their holdings of LAC. Cacti Asset Management LLC purchased a new stake in shares of Lithium Americas in the first quarter worth approximately $27,000. Members Wealth LLC bought a new position in shares of Lithium Americas in the first quarter valued at approximately $27,000. Ping Capital Management Inc. bought a new position in shares of Lithium Americas in the first quarter valued at approximately $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Lithium Americas in the first quarter worth $27,000. Finally, Harbour Investments Inc. increased its position in Lithium Americas by 86.1% in the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock worth $27,000 after buying an additional 4,580 shares during 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.

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