Lithium Americas (NYSE:LAC) Trading 0.8% Higher – Time to Buy?

Lithium Americas Corp. (NYSE:LAC) shares rose 0.8% on Monday . The company traded as high as $4.15 and last traded at $4.00. Approximately 3,036,156 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 5,407,435 shares. The stock had previously closed at $3.97.

Analyst Upgrades and Downgrades

LAC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. BMO Capital Markets raised Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. B. Riley lifted their price target on Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Scotiabank reduced their price objective on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday, October 18th. Finally, National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Lithium Americas currently has a consensus rating of “Hold” and an average target price of $5.63.

Lithium Americas Stock Performance

The firm has a 50-day moving average of $3.34 and a 200-day moving average of $3.03. The firm has a market capitalization of $875.02 million and a P/E ratio of -33.33.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LAC. Renaissance Technologies LLC purchased a new stake in Lithium Americas during the 2nd quarter valued at $520,000. Marshall Wace LLP bought a new position in shares of Lithium Americas during the second quarter valued at about $10,252,000. Merewether Investment Management LP purchased a new stake in shares of Lithium Americas during the second quarter worth about $858,000. Point72 Asset Management L.P. grew its stake in shares of Lithium Americas by 580.1% in the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after purchasing an additional 1,584,123 shares during the last quarter. Finally, Teamwork Financial Advisors LLC increased its holdings in Lithium Americas by 2,274.3% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after purchasing an additional 381,965 shares during the period.

About Lithium Americas

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.