Lithium Americas (NYSE:LAC) Stock Price Up 4.3% – What’s Next?

Lithium Americas Corp. (NYSE:LAC)’s stock price was up 4.3% on Wednesday . The stock traded as high as $5.32 and last traded at $5.2450. Approximately 15,241,869 shares were traded during trading, a decline of 6% from the average daily volume of 16,250,088 shares. The stock had previously closed at $5.03.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LAC. JPMorgan Chase & Co. upgraded Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Thursday, November 6th. TD Securities lowered shares of Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price target on the stock. in a report on Thursday, September 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, October 31st. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, TD Cowen restated a “hold” rating and set a $5.00 price objective on shares of Lithium Americas in a research note on Thursday, September 25th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and an average target price of $5.33.

Lithium Americas Price Performance

The firm has a market cap of $1.71 billion, a P/E ratio of -5.37 and a beta of 1.41. The company has a 50 day moving average of $6.02 and a two-hundred day moving average of $3.94. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84.

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

Insider Buying and Selling at Lithium Americas

In other Lithium Americas news, VP Alexi Illya Zawadzki sold 353,914 shares of the business’s stock in a transaction dated 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 sale, the vice president owned 40,005 shares in the company, valued at approximately $379,247.40. The trade was a 89.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Edward Grandy sold 6,183 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $4.50, for a total transaction of $27,823.50. Following the completion of the transaction, the senior vice president owned 135,466 shares of the company’s stock, valued at approximately $609,597. The trade was a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 364,874 shares of company stock valued at $3,404,477. 1.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Lithium Americas by 44.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock worth $2,836,000 after buying an additional 324,518 shares during the period. Teamwork Financial Advisors LLC lifted its holdings in Lithium Americas by 18.1% during the 2nd quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock valued at $2,714,000 after purchasing an additional 155,068 shares during the last quarter. American Century Companies Inc. bought a new stake in Lithium Americas during the 1st quarter worth approximately $277,000. Nuveen LLC acquired a new stake in shares of Lithium Americas in the first quarter valued at $504,000. Finally, Decade Renewable Partners LP lifted its position in shares of Lithium Americas by 51.7% during the first quarter. Decade Renewable Partners LP now owns 680,100 shares of the company’s stock worth $1,843,000 after purchasing an additional 231,900 shares in the last quarter.

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.