Lithium Americas (NYSE:LAC) Trading Down 5.8% – Here’s What Happened

Lithium Americas Corp. (NYSE:LAC)’s share price fell 5.8% during mid-day trading on Monday . The company traded as low as $4.80 and last traded at $4.8240. 13,133,384 shares changed hands during trading, a decline of 18% from the average session volume of 16,056,888 shares. The stock had previously closed at $5.12.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TD Securities lowered 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. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Wedbush lifted their price target on Lithium Americas from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Scotiabank upgraded Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.33.

Lithium Americas Price Performance

The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $1.46 billion, a PE ratio of -4.59 and a beta of 1.39. The stock’s 50-day moving average is $5.92 and its two-hundred day moving average is $4.14.

Lithium Americas (NYSE:LAC) last released its earnings results on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. On average, equities analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current year.

Insider Activity at Lithium Americas

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the firm’s 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 transaction, the vice president owned 40,005 shares in the company, valued at approximately $379,247.40. This trade represents a 89.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Edward Grandy sold 6,183 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $4.50, for a total value of $27,823.50. Following the sale, the senior vice president directly owned 135,466 shares in the company, valued at $609,597. This trade represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 364,874 shares of company stock worth $3,404,477. 1.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Lithium Americas

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