Lithium Americas (NYSE:LAC) Sees Strong Trading Volume

Lithium Americas Corp. (NYSE:LAC) saw strong trading volume on Friday . 1,708,488 shares traded hands during trading, a decline of 55% from the previous session’s volume of 3,789,909 shares.The stock last traded at $4.85 and had previously closed at $4.66.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Scotiabank cut Lithium Americas from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $15.00 to $7.00 in a research note on Monday, March 18th. HSBC dropped their target price on shares of Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a research report on Friday. Evercore ISI reduced their price target on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Lithium Americas currently has an average rating of “Moderate Buy” and an average price target of $12.18.

Lithium Americas Price Performance

The business’s 50-day simple moving average is $5.77 and its 200-day simple moving average is $6.31.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). As a group, equities analysts expect that Lithium Americas Corp. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors have recently made changes to their positions in LAC. Legal & General Group Plc raised its position in Lithium Americas by 0.6% during the fourth quarter. Legal & General Group Plc now owns 65,285 shares of the company’s stock valued at $1,237,000 after acquiring an additional 410 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Lithium Americas by 0.7% during the 2nd quarter. CIBC Asset Management Inc now owns 98,379 shares of the company’s stock valued at $1,992,000 after purchasing an additional 644 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of 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. Great West Life Assurance Co. Can lifted its stake in shares of Lithium Americas by 16.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 5,414 shares of the company’s stock valued at $222,000 after purchasing an additional 780 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Lithium Americas by 224.9% in the first quarter. Captrust Financial Advisors now owns 1,212 shares of the company’s stock worth $47,000 after purchasing an additional 839 shares in the last quarter.

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.