Lithium Americas (NYSE:LAC) Stock Price Up 2.7% – Should You Buy?

Lithium Americas Corp. (NYSE:LAC)’s share price rose 2.7% during mid-day trading on Thursday . The stock traded as high as $5.26 and last traded at $5.1650. Approximately 10,724,936 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 11,904,239 shares. The stock had previously closed at $5.03.

Analyst Upgrades and Downgrades

LAC has been the topic of several recent analyst reports. Wedbush initiated coverage on shares of Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 target price on the stock. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Scotia cut their target price on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a report on Monday, May 25th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.56.

Lithium Americas Trading Up 1.4%

The firm has a market cap of $1.83 billion, a P/E ratio of -12.74 and a beta of 2.50. The firm’s fifty day moving average is $4.69 and its two-hundred day moving average is $4.91. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.65.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.07. Analysts predict that Lithium Americas Corp. will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

Large investors have recently added to or reduced their stakes in the stock. Main Street Group LTD purchased a new position in Lithium Americas during the first quarter valued at $26,000. Steward Partners Investment Advisory LLC lifted its position in Lithium Americas by 149.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after buying an additional 3,550 shares during the period. IFP Advisors Inc lifted its position in Lithium Americas by 1,253.3% during the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after buying an additional 6,016 shares during the period. Quarry LP purchased a new position in Lithium Americas during the third quarter valued at $28,000. Finally, Walleye Capital LLC purchased a new position in Lithium Americas during the second quarter valued at $28,000.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.