Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price was up 23.4% during mid-day trading on Wednesday after Wedbush raised their price target on the stock from $5.00 to $8.00. Wedbush currently has a neutral rating on the stock. Lithium Americas traded as high as $7.55 and last traded at $7.05. Approximately 213,669,066 shares were traded during mid-day trading, an increase of 1,885% from the average daily volume of 10,763,228 shares. The stock had previously closed at $5.71.
LAC has been the topic of several other reports. Cowen downgraded shares of Lithium Americas from a "buy" rating to a "hold" rating in a research report on Wednesday, September 24th. TD Cowen reissued a "hold" rating and set a $5.00 target price on shares of Lithium Americas in a research note on Thursday, September 25th. TD Securities lowered shares of Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 target price for the company. in a research note on Thursday, September 25th. Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. Finally, Jefferies Financial Group reduced their target price on shares of Lithium Americas from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Lithium Americas presently has a consensus rating of "Hold" and a consensus price target of $5.09.
View Our Latest Analysis on LAC
Institutional Investors Weigh In On Lithium Americas
A number of large investors have recently made changes to their positions in LAC. Bank of Montreal Can grew its position in Lithium Americas by 3,173.0% during the second quarter. Bank of Montreal Can now owns 846,998 shares of the company's stock valued at $2,266,000 after purchasing an additional 821,120 shares in the last quarter. Invesco Ltd. grew its position in Lithium Americas by 38.0% during the second quarter. Invesco Ltd. now owns 1,666,561 shares of the company's stock valued at $4,466,000 after purchasing an additional 459,252 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Lithium Americas during the second quarter valued at approximately $1,057,000. Goldman Sachs Group Inc. grew its position in Lithium Americas by 44.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company's stock valued at $2,836,000 after purchasing an additional 324,518 shares in the last quarter. Finally, Decade Renewable Partners LP grew its position in Lithium Americas by 51.7% during the first quarter. Decade Renewable Partners LP now owns 680,100 shares of the company's stock valued at $1,843,000 after purchasing an additional 231,900 shares in the last quarter.
Lithium Americas Price Performance
The stock's 50-day moving average is $3.24 and its 200 day moving average is $2.95. The stock has a market capitalization of $1.70 billion, a PE ratio of -30.63 and a beta of 0.69. 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 announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). As a group, equities analysts predict that Lithium Americas Corp. will post -0.12 earnings per share for the current year.
About Lithium Americas
(
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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