Lithium Americas (NYSE:LAC) Trading Down 4.7% – What’s Next?

Lithium Americas Corp. (NYSE:LAC) shares dropped 4.7% during mid-day trading on Monday . The company traded as low as $4.72 and last traded at $4.7750. Approximately 8,265,955 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 12,023,810 shares. The stock had previously closed at $5.01.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LAC shares. Wedbush started coverage on shares of Lithium Americas in a research note on Monday, April 20th. They set a “neutral” rating and a $8.00 target price for the company. Scotiabank lowered their target price 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 reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research note on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Lithium Americas in a research note on Monday, February 23rd. Finally, Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.71.

Lithium Americas Stock Performance

The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -11.60 and a beta of 2.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 5.16. The firm has a 50 day moving average price of $4.62 and a 200-day moving average price of $4.91.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.07. As a group, sell-side analysts expect that Lithium Americas Corp. will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Lithium Americas in the third quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC raised its holdings 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 in the last quarter. Main Street Group LTD acquired a new stake in Lithium Americas in the first quarter valued at approximately $26,000. IFP Advisors Inc raised its holdings in Lithium Americas by 1,253.3% in the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after acquiring an additional 6,016 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Lithium Americas in the fourth quarter valued at approximately $42,000.

Lithium Americas Company Profile

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.