Stock Traders Purchase High Volume of Call Options on Lithium Americas (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) was the recipient of some unusual options trading activity on Monday. Traders bought 7,371 call options on the company. This represents an increase of approximately 329% compared to the typical daily volume of 1,718 call options.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors have recently bought and sold shares of the company. Quent Capital LLC raised its holdings in shares of Lithium Americas by 100.0% during the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after acquiring an additional 5,000 shares during the period. Point72 Asset Management L.P. increased its holdings in Lithium Americas by 580.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after purchasing an additional 1,584,123 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Lithium Americas by 12.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock worth $112,000 after buying an additional 4,504 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Lithium Americas by 75.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,554 shares of the company’s stock worth $209,000 after purchasing an additional 33,900 shares during the period. Finally, Merewether Investment Management LP purchased a new stake in Lithium Americas during the 2nd quarter worth about $858,000.

Analysts Set New Price Targets

Several research analysts have weighed in on LAC shares. Scotiabank decreased their price target on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 15th. B. Riley reduced their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Piper Sandler started coverage on Lithium Americas in a report on Monday, July 29th. They set a “neutral” rating and a $3.90 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.56.

Lithium Americas Price Performance

Lithium Americas stock opened at $2.71 on Wednesday. Lithium Americas has a 1-year low of $2.02 and a 1-year high of $11.50. The business has a fifty day moving average price of $2.46 and a 200-day moving average price of $3.57.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Research analysts anticipate that Lithium Americas will post -0.09 EPS for the current fiscal year.

About Lithium Americas

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. Lithium Americas Corp.