Lithium Americas (NYSE:LAC) Sees Large Volume Increase

Shares of Lithium Americas Corp. (NYSE:LACGet 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.

Lithium Americas (NYSE:LACGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). During the same period last year, the firm earned ($0.16) EPS. On average, analysts anticipate that Lithium Americas Corp. will post 0.01 earnings per share for the current fiscal year.

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.

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