Lithium Americas (NYSE:LAC) Shares Down 2.2% – What’s Next?

Lithium Americas Corp. (NYSE:LAC)’s share price traded down 2.2% on Thursday . The stock traded as low as $4.46 and last traded at $4.51. 12,603,865 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 16,004,363 shares. The stock had previously closed at $4.61.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen reaffirmed a “hold” rating and set a $5.00 price target on shares of Lithium Americas in a research report on Thursday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, October 31st. Scotiabank raised Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. Finally, Cowen downgraded Lithium Americas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lithium Americas has an average rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Stock 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 $1.37 billion, a price-to-earnings ratio of -4.30 and a beta of 1.40. The stock’s fifty day simple moving average is $5.71 and its 200-day simple moving average is $4.18.

Lithium Americas (NYSE:LAC) last posted its quarterly 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. Analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current year.

Insider Buying and Selling

In other Lithium Americas news, SVP Edward Grandy sold 6,183 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 135,466 shares in the company, valued at $609,597. The trade was a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Alexi Illya Zawadzki sold 353,914 shares of the 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 sale, the vice president directly owned 40,005 shares in the company, valued at approximately $379,247.40. This represents a 89.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 364,874 shares of company stock worth $3,404,477 over the last 90 days. Insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently modified their holdings of the company. Harbour Investments Inc. lifted its holdings in shares of Lithium Americas by 86.1% in the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock valued at $27,000 after purchasing an additional 4,580 shares during the last quarter. Quarry LP acquired a new position in Lithium Americas during the third quarter worth approximately $28,000. Walleye Capital LLC purchased a new stake in Lithium Americas in the second quarter valued at approximately $28,000. IHT Wealth Management LLC acquired a new stake in shares of Lithium Americas in the second quarter valued at approximately $28,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Lithium Americas in the second quarter valued at approximately $32,000.

Lithium Americas Company Profile

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.