Lithium Americas (NYSE:LAC) Shares Up 3.4% – Time to Buy?

Lithium Americas Corp. (NYSE:LAC) shares traded up 3.4% during trading on Thursday . The company traded as high as $5.49 and last traded at $5.43. 12,882,942 shares changed hands during trading, a decline of 21% from the average session volume of 16,207,226 shares. The stock had previously closed at $5.25.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LAC. Wedbush upped their price objective on shares of Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. raised shares of Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Thursday, November 6th. Scotiabank upgraded Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. BMO Capital Markets boosted their target price on Lithium Americas from $3.50 to $5.00 and gave the company a “market perform” rating in a research note on Thursday, October 2nd. Finally, Jefferies Financial Group dropped their target price on Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and an average price target of $5.33.

Lithium Americas Stock Up 3.4%

The firm has a market cap of $1.65 billion, a P/E ratio of -5.17 and a beta of 1.40. The business’s fifty day moving average price is $6.14 and its two-hundred day moving average price is $4.01. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.84.

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

Insider Activity

In related news, SVP Edward Grandy sold 6,183 shares of the business’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 value of $27,823.50. Following the completion of the sale, the senior vice president directly owned 135,466 shares in the company, valued at approximately $609,597. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Alexi Illya Zawadzki sold 353,914 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total value of $3,355,104.72. Following the sale, the vice president directly owned 40,005 shares of the company’s stock, valued at $379,247.40. The trade was a 89.84% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 364,874 shares of company stock valued at $3,404,477. 1.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. lifted its position in 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 acquiring an additional 4,580 shares during the last quarter. Quarry LP acquired a new position in shares of Lithium Americas during the 3rd quarter worth about $28,000. Walleye Capital LLC acquired a new position in shares of Lithium Americas during the 2nd quarter worth about $28,000. IHT Wealth Management LLC bought a new stake in Lithium Americas during the 2nd quarter valued at approximately $28,000. Finally, International Assets Investment Management LLC acquired a new stake in Lithium Americas in the 2nd quarter valued at approximately $32,000.

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.