Lithium Americas (NYSE:LAC) Shares Up 1.1% – Still a Buy?

Lithium Americas Corp. (NYSE:LAC) shot up 1.1% on Wednesday . The stock traded as high as $5.13 and last traded at $5.0450. 9,353,679 shares traded hands during trading, a decline of 21% from the average session volume of 11,915,304 shares. The stock had previously closed at $4.99.

Analyst Ratings Changes

Several research firms recently weighed in on LAC. TD Securities raised Lithium Americas to a “hold” rating in a report on Monday, February 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Wall Street Zen raised Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Jefferies Financial Group reissued a “buy” rating on shares of Lithium Americas in a report on Monday, February 23rd. Finally, Scotia lowered their target price on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a research report on Monday. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lithium Americas has an average rating of “Hold” and a consensus price target of $5.56.

Lithium Americas Stock Performance

The firm has a market capitalization of $1.83 billion, a P/E ratio of -12.74 and a beta of 2.50. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $4.67 and a 200-day moving average of $4.91.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.07. On average, equities analysts anticipate that Lithium Americas Corp. will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LAC. Van ECK Associates Corp raised its position in shares of Lithium Americas by 20.8% in the 4th quarter. Van ECK Associates Corp now owns 17,495,908 shares of the company’s stock worth $76,282,000 after acquiring an additional 3,016,293 shares in the last quarter. Millennium Management LLC raised its position in shares of Lithium Americas by 35.8% in the 4th quarter. Millennium Management LLC now owns 4,489,568 shares of the company’s stock worth $19,575,000 after acquiring an additional 1,182,465 shares in the last quarter. Legal & General Group Plc raised its position in shares of Lithium Americas by 212.7% in the 4th quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after acquiring an additional 2,082,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Lithium Americas by 1.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock worth $7,350,000 after acquiring an additional 45,941 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Lithium Americas by 44.3% in the 3rd quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock worth $13,736,000 after acquiring an additional 739,007 shares in the last quarter.

About Lithium Americas

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.