Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price shot up 2.9% during mid-day trading on Wednesday . The company traded as high as $7.16 and last traded at $7.16. 1,734,343 shares were traded during mid-day trading, a decline of 50% from the average session volume of 3,456,936 shares. The stock had previously closed at $6.96.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Lithium Americas from $13.00 to $9.00 and set an "outperform" rating for the company in a report on Friday, March 15th. JPMorgan Chase & Co. lifted their price objective on shares of Lithium Americas from $5.50 to $7.00 and gave the company a "neutral" rating in a report on Monday, March 18th. Finally, Scotiabank cut shares of Lithium Americas from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $15.00 to $7.00 in a report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $14.94.
Get Our Latest Report on Lithium Americas
Lithium Americas Trading Up 3.3 %
The firm's fifty day simple moving average is $5.42 and its 200 day simple moving average is $6.82.
Lithium Americas (NYSE:LAC - Get Free Report) last posted its quarterly earnings results on Friday, March 15th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). Equities analysts forecast that Lithium Americas Corp. will post -0.16 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in shares of Lithium Americas in the 1st quarter valued at $25,000. Mather Group LLC. purchased a new stake in Lithium Americas in the 1st quarter valued at $26,000. PNC Financial Services Group Inc. raised its position in Lithium Americas by 725.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company's stock valued at $32,000 after purchasing an additional 725 shares during the last quarter. Allworth Financial LP purchased a new stake in Lithium Americas in the 4th quarter valued at $37,000. Finally, CWM LLC raised its position in Lithium Americas by 140.6% in the 3rd quarter. CWM LLC now owns 2,327 shares of the company's stock valued at $40,000 after purchasing an additional 1,360 shares during the last quarter.
About Lithium Americas
(
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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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