Lithium Americas (NYSE:LAC) Trading 9.6% Higher - What's Next?

Key Points

• Shares of Lithium Americas Corp. jumped 9.6% during mid-day trading, reaching a high of $3.14, with a volume increase of 46% compared to the average session.
• Cormark upgraded Lithium Americas to a "moderate buy" rating, contributing to a consensus rating of "Hold" among analysts with an average target price of $4.15.
• The company reported a loss of ($0.06) earnings per share, which missed analysts' expectations, and is projected to post -0.12 EPS for the current fiscal year.

Shares of Lithium Americas Corp. (NYSE:LAC - Get Free Report) shot up 9.6% during mid-day trading on Monday . The company traded as high as $3.13 and last traded at $3.14. 8,189,998 shares traded hands during mid-day trading, an increase of 46% from the average session volume of 5,624,217 shares. The stock had previously closed at $2.86.

Analyst Upgrades and Downgrades

Separately, Cormark upgraded Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.15.

Lithium Americas Price Performance

The business has a fifty day moving average price of $2.88 and a 200 day moving average price of $2.82. The company has a market capitalization of $770.90 million, a price-to-earnings ratio of -13.87 and a beta of 0.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.88 and a quick ratio of 9.88.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Lithium Americas by 3.9% in the 4th quarter. Mackenzie Financial Corp now owns 87,701 shares of the company's stock worth $262,000 after purchasing an additional 3,310 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in Lithium Americas by 33.9% in the 2nd quarter. Axxcess Wealth Management LLC now owns 16,582 shares of the company's stock worth $44,000 after purchasing an additional 4,200 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Lithium Americas by 4.4% in the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company's stock worth $309,000 after purchasing an additional 4,379 shares in the last quarter. HITE Hedge Asset Management LLC increased its stake in Lithium Americas by 0.6% in the 1st quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company's stock worth $1,994,000 after purchasing an additional 4,445 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in Lithium Americas by 86.1% in the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock worth $27,000 after purchasing an additional 4,580 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.