Shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) saw strong trading volume on Friday . 96,884 shares traded hands during mid-day trading, a decline of 97% from the previous session’s volume of 3,293,139 shares.The stock last traded at $20.64 and had previously closed at $19.50.
Several equities analysts have commented on LAC shares. Stifel Nicolaus started coverage on shares of Lithium Americas in a research report on Thursday, February 24th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Lithium Americas from $40.00 to $36.00 in a research note on Friday, May 6th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.70.
The company’s 50-day moving average price is $25.46 and its 200 day moving average price is $28.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 51.19 and a current ratio of 51.19.
Several hedge funds and other institutional investors have recently bought and sold shares of LAC. BNP Paribas Arbitrage SA purchased a new stake in Lithium Americas during the 3rd quarter worth approximately $1,278,000. Fiduciary Trust Co. acquired a new position in Lithium Americas during the fourth quarter worth $255,000. Mercer Global Advisors Inc. ADV raised its position in Lithium Americas by 65.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 28,627 shares of the company’s stock worth $834,000 after acquiring an additional 11,327 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Lithium Americas during the fourth quarter worth $11,503,000. Finally, Credit Agricole S A raised its position in shares of Lithium Americas by 566.7% in the fourth quarter. Credit Agricole S A now owns 40,000 shares of the company’s stock valued at $1,165,000 after buying an additional 34,000 shares during the last quarter. Hedge funds and other institutional investors own 17.87% of the company’s stock.
About Lithium Americas (NYSE:LAC)
Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.
- Get a free copy of the StockNews.com research report on Lithium Americas (LAC)
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