Lithium Americas (NYSE:LAC) Sees Strong Trading Volume - Time to Buy?

Lithium Americas Corp. (NYSE:LAC - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 6,100,894 shares traded hands during trading, an increase of 35% from the previous session's volume of 4,512,171 shares.The stock last traded at $2.87 and had previously closed at $2.65.

Wall Street Analyst Weigh In

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

Lithium Americas Stock Up 7.2%

The stock has a 50 day moving average of $2.78 and a 200-day moving average of $2.89. The firm has a market capitalization of $621.68 million, a P/E ratio of -17.75 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.35 and a current ratio of 10.35.

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

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAC. Jones Financial Companies Lllp grew its holdings in Lithium Americas by 29.5% during the 4th quarter. Jones Financial Companies Lllp now owns 87,350 shares of the company's stock valued at $259,000 after buying an additional 19,908 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Lithium Americas during the 4th quarter valued at about $130,000. Prosperity Wealth Management Inc. purchased a new position in Lithium Americas during the 4th quarter valued at about $323,000. Balboa Wealth Partners grew its holdings in Lithium Americas by 15.9% during the 4th quarter. Balboa Wealth Partners now owns 51,118 shares of the company's stock valued at $152,000 after buying an additional 7,000 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Lithium Americas by 54.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 54,941 shares of the company's stock valued at $163,000 after buying an additional 19,481 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.