Lithium Americas (NYSE:LAC) Shares Up 5.2%

Shares of Lithium Americas Corp. (NYSE:LAC - Get Free Report) shot up 5.2% on Monday . The company traded as high as $7.20 and last traded at $7.07. 970,374 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 3,453,664 shares. The stock had previously closed at $6.72.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LAC shares. Evercore ISI lowered their price target on Lithium Americas from $13.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, March 15th. JPMorgan Chase & Co. raised their price target on Lithium Americas from $5.50 to $7.00 and gave the stock a "neutral" rating in a research report on Monday, March 18th. Finally, Scotiabank downgraded Lithium Americas from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $15.00 to $7.00 in a research report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Lithium Americas currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.94.

Lithium Americas Stock Performance

The firm has a 50-day moving average price of $5.15 and a two-hundred day moving average price of $7.34.

Lithium Americas (NYSE:LAC - Get Free Report) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). On average, equities research analysts predict that Lithium Americas Corp. will post -0.16 EPS for the current year.

Institutional Trading of Lithium Americas

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Advisor Solutions LLC grew its stake in Lithium Americas by 3.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 60,551 shares of the company's stock valued at $368,000 after purchasing an additional 2,126 shares during the last quarter. LPL Financial LLC grew its stake in shares of Lithium Americas by 82.6% during the third quarter. LPL Financial LLC now owns 223,701 shares of the company's stock worth $3,805,000 after acquiring an additional 101,174 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of Lithium Americas by 37.1% during the fourth quarter. Mutual Advisors LLC now owns 52,073 shares of the company's stock worth $333,000 after acquiring an additional 14,101 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Lithium Americas by 10.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 105,027 shares of the company's stock worth $1,787,000 after acquiring an additional 9,575 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in Lithium Americas by 8.5% in the third quarter. HighTower Advisors LLC now owns 42,287 shares of the company's stock valued at $718,000 after buying an additional 3,321 shares during 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. The company was incorporated in 2023 and is headquartered in Vancouver, Canada.