Lithium Americas (NYSE:LAC) Shares Down 6.6% – What’s Next?

Lithium Americas Corp. (NYSE:LAC) fell 6.6% on Thursday . The company traded as low as $4.74 and last traded at $4.7820. 20,814,559 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 16,301,135 shares. The stock had previously closed at $5.12.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LAC. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. TD Securities lowered shares of Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price target for the company. in a report on Thursday, September 25th. BMO Capital Markets lifted their price target on shares of Lithium Americas from $3.50 to $5.00 and gave the stock a “market perform” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. raised shares of Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Thursday, November 6th. Finally, Cormark downgraded Lithium Americas from a “moderate buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and an average target price of $5.33.

Lithium Americas Stock Down 1.3%

The company has a debt-to-equity ratio of 0.84, a current ratio of 3.77 and a quick ratio of 9.88. The firm’s 50-day moving average price is $5.87 and its 200 day moving average price is $3.89. The firm has a market cap of $1.17 billion, a P/E ratio of -4.50 and a beta of 1.41.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data 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. On average, equities research analysts expect that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Edward Grandy sold 6,183 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $4.50, for a total transaction of $27,823.50. Following the sale, the senior vice president directly owned 135,466 shares of the company’s stock, valued at approximately $609,597. This represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Alexi Illya Zawadzki sold 353,914 shares of Lithium Americas stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the completion of the transaction, the vice president directly owned 40,005 shares of the company’s stock, valued at approximately $379,247.40. This represents a 89.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 364,860 shares of company stock valued at $3,404,362 over the last quarter. Company insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Lithium Americas

Institutional investors and hedge funds have recently bought and sold shares of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Lithium Americas in the first quarter valued at approximately $27,000. Harbour Investments Inc. raised its position in shares of Lithium Americas by 86.1% during the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock worth $27,000 after purchasing an additional 4,580 shares during the period. Quarry LP bought a new stake in shares of Lithium Americas in the 3rd quarter worth approximately $28,000. Walleye Capital LLC acquired a new position in Lithium Americas during the 2nd quarter valued at approximately $28,000. Finally, IHT Wealth Management LLC acquired a new position in Lithium Americas during the 2nd quarter valued at approximately $28,000.

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.