Lithium Americas (NYSE:LAC) Trading Down 1.7% – Here’s Why

Lithium Americas Corp. (NYSE:LAC) shares fell 1.7% on Thursday . The company traded as low as $3.71 and last traded at $3.7650. Approximately 9,385,671 shares traded hands during trading, an increase of 11% from the average session volume of 8,483,982 shares. The stock had previously closed at $3.83.

Analyst Upgrades and Downgrades

Several research firms recently commented on LAC. The Goldman Sachs Group started coverage on shares of Lithium Americas in a research note on Wednesday. They issued a “neutral” rating and a $4.50 price target on the stock. Scotiabank dropped their price objective on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research note on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Wedbush started coverage on shares of Lithium Americas in a report on Monday, April 20th. They set a “neutral” rating and a $8.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas has an average rating of “Hold” and an average price target of $5.44.

Lithium Americas Trading Down 1.7%

The company has a debt-to-equity ratio of 0.65, a quick ratio of 7.36 and a current ratio of 7.36. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -9.18 and a beta of 2.47. The firm has a fifty day moving average price of $4.80 and a 200-day moving average price of $4.79.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently bought and sold shares of the company. Main Street Group LTD bought a new stake in shares of Lithium Americas during the 1st quarter worth approximately $26,000. Steward Partners Investment Advisory LLC increased its stake in Lithium Americas by 149.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after acquiring an additional 3,550 shares during the last quarter. IFP Advisors Inc raised its position in Lithium Americas by 1,253.3% during the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after purchasing an additional 6,016 shares in the last quarter. Quarry LP acquired a new position in Lithium Americas during the third quarter valued at approximately $28,000. Finally, Walleye Capital LLC bought a new stake in Lithium Americas during the second quarter worth $28,000.

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.