Lithium Americas (NYSE:LAC) Shares Down 1.3% – Time to Sell?

Shares of Lithium Americas Corp. (NYSE:LAC) were down 1.3% during mid-day trading on Thursday . The stock traded as low as $5.38 and last traded at $5.5150. Approximately 11,510,063 shares changed hands during trading, a decline of 28% from the average daily volume of 16,050,492 shares. The stock had previously closed at $5.59.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Cowen cut Lithium Americas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. TD Securities downgraded shares of 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. Wedbush lifted their price objective on shares of Lithium Americas from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Finally, Canaccord Genuity Group upgraded shares of Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday, November 19th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.56.

Lithium Americas Trading Down 2.4%

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 stock has a market cap of $1.63 billion, a price-to-earnings ratio of -5.13 and a beta of 1.57. The company has a fifty day simple moving average of $4.96 and a 200-day simple moving average of $4.43.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. On average, research analysts forecast that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lithium Americas news, SVP Edward Grandy sold 6,183 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $4.50, for a total transaction of $27,823.50. Following the sale, the senior vice president directly owned 135,466 shares of the company’s stock, valued at $609,597. The trade was a 4.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 10,960 shares of company stock worth $49,372. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Lithium Americas

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings 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 acquiring an additional 324,518 shares in the last quarter. Teamwork Financial Advisors LLC grew its stake in Lithium Americas by 18.1% in the second quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock valued at $2,714,000 after purchasing an additional 155,068 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Lithium Americas by 5.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 328,582 shares of the company’s stock worth $874,000 after purchasing an additional 15,898 shares during the last quarter. Revisor Wealth Management LLC increased its position in Lithium Americas by 16.2% in the 2nd quarter. Revisor Wealth Management LLC now owns 184,293 shares of the company’s stock worth $525,000 after purchasing an additional 25,732 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its stake in shares of Lithium Americas by 63.2% during the 2nd quarter. Perigon Wealth Management LLC now owns 25,824 shares of the company’s stock worth $69,000 after purchasing an additional 10,000 shares in the last quarter.

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.