Lithium Americas Corp (NYSE:LAC) was up 9.7% during trading on Thursday . The company traded as high as $12.87 and last traded at $12.50. Approximately 10,118,635 shares changed hands during mid-day trading, an increase of 710% from the average daily volume of 1,248,460 shares. The stock had previously closed at $11.39.
A number of equities research analysts have recently commented on LAC shares. BMO Capital Markets increased their target price on shares of Lithium Americas from $4.40 to $5.00 and gave the company a “market perform” rating in a research report on Thursday, June 25th. Zacks Investment Research cut shares of Lithium Americas from a “hold” rating to a “sell” rating in a research note on Friday, September 11th. ValuEngine cut shares of Lithium Americas from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. Finally, National Bank Financial boosted their price objective on shares of Lithium Americas from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th.
The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 27.13 and a beta of 1.82. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 4.05. The business has a fifty day moving average price of $7.98 and a 200 day moving average price of $5.11.
Several institutional investors and hedge funds have recently modified their holdings of the company. First Trust Advisors LP purchased a new stake in Lithium Americas during the second quarter valued at about $870,000. Morgan Stanley increased its position in shares of Lithium Americas by 2.2% during the first quarter. Morgan Stanley now owns 2,100,540 shares of the company’s stock valued at $5,587,000 after acquiring an additional 45,234 shares in the last quarter. TD Asset Management Inc. bought a new stake in shares of Lithium Americas during the second quarter valued at approximately $206,000. Scotia Capital Inc. increased its position in shares of Lithium Americas by 4.9% during the second quarter. Scotia Capital Inc. now owns 669,888 shares of the company’s stock valued at $3,494,000 after acquiring an additional 31,156 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Lithium Americas during the first quarter valued at approximately $83,000. 4.68% of the stock is currently owned by institutional investors.
Lithium Americas Company Profile (NYSE:LAC)
Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It primarily holds interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and owns a 100% interest in the Thacker Pass lithium project located in Nevada. The company also manufactures and sells organoclay products that are used in complex oil and gas drilling and other applications.
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