Lithium Americas Corp. (NYSE:LAC – Get Rating) saw unusually-high trading volume on Friday . Approximately 107,534 shares were traded during mid-day trading, a decline of 96% from the previous session's volume of 2,431,471 shares.The stock last traded at $25.81 and had previously closed at $27.18.

Wall Street Analyst Weigh In

LAC has been the topic of a number of research analyst reports. Canaccord Genuity Group reduced their target price on Lithium Americas from C$50.00 to C$49.00 and set a "buy" rating on the stock in a research report on Friday, July 22nd. Piper Sandler restated an "overweight" rating and issued a $38.00 target price on shares of Lithium Americas in a research report on Tuesday, September 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Lithium Americas from $36.00 to $33.00 in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.91.

Lithium Americas Price Performance

The company has a current ratio of 44.14, a quick ratio of 44.14 and a debt-to-equity ratio of 0.26. The stock has a market cap of $3.50 billion, a PE ratio of -48.13 and a beta of 1.52. The company has a fifty day moving average of $27.82 and a 200-day moving average of $26.58.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LAC. Envestnet Asset Management Inc. acquired a new position in Lithium Americas during the 4th quarter worth $210,000. Principal Financial Group Inc. acquired a new position in Lithium Americas during the 4th quarter worth $283,000. HighTower Advisors LLC grew its stake in Lithium Americas by 32.1% during the 4th quarter. HighTower Advisors LLC now owns 22,264 shares of the company's stock worth $649,000 after purchasing an additional 5,408 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Lithium Americas during the 4th quarter worth about $386,000. Finally, Bank of Montreal Can increased its holdings in shares of Lithium Americas by 27.2% in the 4th quarter. Bank of Montreal Can now owns 339,894 shares of the company's stock valued at $10,178,000 after acquiring an additional 72,593 shares during the last quarter. 23.73% of the stock is owned by institutional investors and hedge funds.

About Lithium Americas

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Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.

Further Reading

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