Lithium Americas Corp. (NYSE:LAC - Get Free Report) shares saw unusually-strong trading volume on Thursday after BMO Capital Markets raised their price target on the stock from $3.50 to $5.00. BMO Capital Markets currently has a market perform rating on the stock. Approximately 22,406,353 shares changed hands during trading, an increase of 107% from the previous session's volume of 10,835,202 shares.The stock last traded at $6.99 and had previously closed at $7.04.
A number of other research analysts also recently weighed in on LAC. TD Cowen reissued a "hold" rating and issued a $5.00 price objective on shares of Lithium Americas in a research note on Thursday, September 25th. Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. Wedbush raised their price target on Lithium Americas from $5.00 to $8.00 and gave the company a "neutral" rating in a research report on Wednesday. Jefferies Financial Group lowered their target price on Lithium Americas from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. Finally, TD Securities downgraded Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 price target on the stock. in a research report on Thursday, September 25th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.08.
Read Our Latest Report on Lithium Americas
Institutional Investors Weigh In On Lithium Americas
A number of institutional investors and hedge funds have recently modified their holdings of LAC. Harbour Investments Inc. boosted its stake in Lithium Americas by 86.1% in the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock valued at $27,000 after acquiring an additional 4,580 shares during the last quarter. Ping Capital Management Inc. acquired a new position in shares of Lithium Americas in the 1st quarter valued at $27,000. Members Wealth LLC acquired a new stake in shares of Lithium Americas during the first quarter worth $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Lithium Americas in the 1st quarter valued at about $27,000. Finally, Walleye Capital LLC bought a new position in Lithium Americas during the 2nd quarter worth approximately $28,000.
Lithium Americas Trading Down 1.0%
The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.68 billion, a P/E ratio of -30.26 and a beta of 1.38. The company has a fifty day simple moving average of $3.31 and a two-hundred day simple moving average of $2.98.
Lithium Americas (NYSE:LAC - Get Free Report) last issued its quarterly earnings data 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). On average, sell-side analysts expect that Lithium Americas Corp. will post -0.12 earnings per share for the current year.
Lithium Americas Company Profile
(
Get Free Report)
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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