Lithium Americas (NYSE:LAC) Stock Price Down 6.2% – What’s Next?

Lithium Americas Corp. (NYSE:LAC) shares traded down 6.2% on Friday . The company traded as low as $3.61 and last traded at $3.63. 4,548,648 shares changed hands during trading, a decline of 16% from the average session volume of 5,403,176 shares. The stock had previously closed at $3.87.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LAC shares. B. Riley raised their price target on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler initiated coverage on Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective for the company. Scotiabank reduced their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday, October 18th. Finally, BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.63.

Lithium Americas Stock Down 3.9 %

The firm has a market capitalization of $820.89 million and a P/E ratio of -31.00. The company’s 50 day moving average is $3.13 and its 200-day moving average is $3.08.

Institutional Trading of Lithium Americas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in shares of Lithium Americas during the first quarter valued at approximately $202,000. SG Americas Securities LLC bought a new stake in Lithium Americas during the 1st quarter valued at $69,000. Toronto Dominion Bank raised its holdings in Lithium Americas by 327.7% during the first quarter. Toronto Dominion Bank now owns 21,862 shares of the company’s stock worth $147,000 after buying an additional 16,751 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Lithium Americas by 51.9% in the first quarter. Tidal Investments LLC now owns 253,303 shares of the company’s stock valued at $1,705,000 after buying an additional 86,570 shares in the last quarter. Finally, Virtu Financial LLC grew its holdings in shares of Lithium Americas by 83.4% during the first quarter. Virtu Financial LLC now owns 62,252 shares of the company’s stock valued at $418,000 after buying an additional 28,305 shares during 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.