Lithium Americas (NYSE:LAC) Shares Down 2.9% – Time to Sell?

Lithium Americas Corp. (NYSE:LAC)’s share price was down 2.9% on Friday . The company traded as low as $4.33 and last traded at $4.4650. Approximately 12,630,472 shares changed hands during trading, a decline of 22% from the average daily volume of 16,187,652 shares. The stock had previously closed at $4.60.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LAC. Wedbush boosted their price objective on Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, October 31st. JPMorgan Chase & Co. upgraded Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Thursday, November 6th. TD Securities downgraded shares of Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price objective for the company. in a research report on Thursday, September 25th. Finally, BMO Capital Markets boosted their target price on shares of Lithium Americas from $3.50 to $5.00 and gave the company a “market perform” rating in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Lithium Americas currently has an average rating of “Hold” and a consensus target price of $5.33.

Lithium Americas Price Performance

The business has a 50-day moving average price of $5.67 and a two-hundred day moving average price of $3.82. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -4.25 and a beta of 1.41.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. As a group, research analysts anticipate that Lithium Americas Corp. will post -0.12 EPS for the current year.

Insider Transactions at Lithium Americas

In other Lithium Americas news, VP Alexi Illya Zawadzki sold 353,914 shares of Lithium Americas stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total value of $3,355,104.72. Following the sale, the vice president owned 40,005 shares of the company’s stock, valued at approximately $379,247.40. The trade was a 89.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

A number of large investors have recently made changes to their positions in LAC. Van ECK Associates Corp grew its holdings in Lithium Americas by 158.1% during the 3rd quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock valued at $82,679,000 after buying an additional 8,868,971 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Lithium Americas by 1.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock valued at $7,350,000 after acquiring an additional 45,941 shares during the period. Invesco Ltd. grew its stake in Lithium Americas by 44.3% during the third quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock valued at $13,736,000 after acquiring an additional 739,007 shares in the last quarter. Old West Investment Management LLC bought a new stake in Lithium Americas during the 3rd quarter worth approximately $7,647,000. Finally, Teamwork Financial Advisors LLC increased its holdings in Lithium Americas by 26.6% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company’s stock worth $7,319,000 after acquiring an additional 268,918 shares during the period.

Lithium Americas Company Profile

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.