Lithium Americas (NYSE:LAC) Trading Down 3.9% – Should You Sell?

Lithium Americas Corp. (NYSE:LAC)’s stock price fell 3.9% during trading on Wednesday . The stock traded as low as $4.58 and last traded at $4.5950. 13,297,350 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 16,016,894 shares. The stock had previously closed at $4.78.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LAC shares. Scotiabank raised shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. BMO Capital Markets lifted their target price on Lithium Americas from $3.50 to $5.00 and gave the stock a “market perform” rating in a report on Thursday, October 2nd. Wedbush boosted their target price on Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. TD Securities downgraded 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. Finally, Canaccord Genuity Group upgraded Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday, November 19th. Three 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Stock Performance

The stock has a fifty day simple moving average of $5.58 and a 200-day simple moving average of $4.19. The stock has a market cap of $1.44 billion, a P/E ratio of -4.53 and a beta of 1.40. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77.

Lithium Americas (NYSE:LAC) last issued its quarterly 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 expect that Lithium Americas Corp. will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were 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 $379,247.40. This trade represents a 89.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Edward Grandy sold 6,183 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 135,466 shares in the company, valued at approximately $609,597. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 364,874 shares of company stock valued at $3,404,477. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Lithium Americas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Traynor Capital Management Inc. increased its holdings in Lithium Americas by 19.7% in the 3rd quarter. Traynor Capital Management Inc. now owns 12,449 shares of the company’s stock worth $71,000 after purchasing an additional 2,046 shares in the last quarter. Lido Advisors LLC boosted its stake in shares of Lithium Americas by 15.1% during the third quarter. Lido Advisors LLC now owns 16,643 shares of the company’s stock valued at $95,000 after purchasing an additional 2,183 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Lithium Americas by 16.1% during the third quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock worth $96,000 after purchasing an additional 2,321 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Lithium Americas by 3.6% during the third quarter. Public Employees Retirement System of Ohio now owns 67,650 shares of the company’s stock worth $394,000 after purchasing an additional 2,356 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Lithium Americas by 9.2% in the third quarter. Raymond James Financial Inc. now owns 45,090 shares of the company’s stock valued at $257,000 after buying an additional 3,789 shares during the period.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.