Lithium Americas (NYSE:LAC) Stock Price Down 3.7%

Lithium Americas Corp. (NYSE:LAC)’s share price was down 3.7% during mid-day trading on Monday . The company traded as low as $7.07 and last traded at $7.10. Approximately 241,697 shares changed hands during trading, a decline of 92% from the average daily volume of 2,865,216 shares. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Eight Capital set a $16.50 price objective on shares of Lithium Americas and gave the company a “buy” rating in a report on Thursday, October 19th. Scotiabank assumed coverage on shares of Lithium Americas in a research report on Thursday, October 5th. They issued a “sector outperform” rating and a $20.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Lithium Americas in a research report on Thursday, October 5th. They issued a “buy” rating and a $15.00 target price on the stock. Piper Sandler dropped their target price on shares of Lithium Americas from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Friday, September 1st. Finally, B. Riley assumed coverage on shares of Lithium Americas in a research report on Monday, October 16th. They issued a “buy” rating and a $14.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Lithium Americas currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.75.

Lithium Americas Trading Up 4.1 %

The business’s 50-day moving average price is $12.14 and its two-hundred day moving average price is $17.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 12.43 and a quick ratio of 12.43. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 32.50 and a beta of 1.46.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors have recently bought and sold shares of LAC. Creative Planning raised its holdings in Lithium Americas by 1,549.5% in the second quarter. Creative Planning now owns 168,203 shares of the company’s stock valued at $3,399,000 after acquiring an additional 158,006 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in Lithium Americas by 3.7% in the first quarter. Avantax Advisory Services Inc. now owns 27,018 shares of the company’s stock valued at $588,000 after acquiring an additional 958 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in shares of Lithium Americas during the second quarter worth $966,000. LPL Financial LLC raised its holdings in shares of Lithium Americas by 5.3% during the second quarter. LPL Financial LLC now owns 122,527 shares of the company’s stock worth $2,476,000 after purchasing an additional 6,157 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Lithium Americas during the second quarter worth $762,000. 27.28% of the stock is currently owned by hedge funds and other institutional investors.

Lithium Americas Company Profile

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. The company was incorporated in 2023 and is headquartered in Vancouver, Canada.