Lithium Americas (NYSE:LAC) Sees Unusually-High Trading Volume - Here's What Happened

Lithium Americas Corp. (NYSE:LAC - Get Free Report) shares saw an uptick in trading volume on Thursday . 6,100,894 shares traded hands during mid-day 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.

Analyst Upgrades and Downgrades

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

Lithium Americas Trading Up 8.5%

The firm has a market capitalization of $629.35 million, a price-to-earnings ratio of -17.91 and a beta of 0.69. The company has a fifty day moving average price of $2.78 and a two-hundred day moving average price of $2.89. 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 issued its earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). As a group, research analysts forecast that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cacti Asset Management LLC acquired a new position in Lithium Americas in the first quarter valued at $27,000. Members Wealth LLC acquired a new position in Lithium Americas in the first quarter valued at $27,000. Ping Capital Management Inc. acquired a new position in Lithium Americas in the first quarter valued at $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Lithium Americas in the first quarter valued at $27,000. Finally, Mariner LLC acquired a new position in Lithium Americas in the fourth quarter valued at $31,000.

Lithium Americas Company Profile

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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