Lithium Americas (NYSE:LAC) Shares Down 3.5% – What’s Next?

Lithium Americas Corp. (NYSE:LAC) shares traded down 3.5% during mid-day trading on Monday . The company traded as low as $4.49 and last traded at $4.5250. 9,433,403 shares were traded during trading, a decline of 41% from the average session volume of 15,872,977 shares. The stock had previously closed at $4.69.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LAC. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday, November 19th. JPMorgan Chase & Co. upgraded Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Thursday, November 6th. Scotiabank raised shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. TD Cowen reiterated a “hold” rating and issued a $5.00 price target on shares of Lithium Americas in a report on Thursday, September 25th. Finally, TD Securities downgraded Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 target price on the stock. in a report on Thursday, September 25th. 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 company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.33.

Lithium Americas Price Performance

The firm has a 50-day moving average of $5.22 and a 200 day moving average of $4.29. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.77 and a quick ratio of 3.77. The company has a market capitalization of $1.37 billion, a PE ratio of -4.31 and a beta of 1.39.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. As a group, research analysts anticipate that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Insider Activity at Lithium Americas

In other Lithium Americas news, SVP Edward Grandy sold 6,183 shares of the 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 sale, the senior vice president directly owned 135,466 shares of the company’s stock, valued at $609,597. This trade represents a 4.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Alexi Illya Zawadzki sold 353,914 shares of the firm’s stock in a transaction 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 transaction, the vice president directly owned 40,005 shares of the company’s stock, valued at $379,247.40. The trade was a 89.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 364,874 shares of company stock worth $3,404,477 in the last three months. 1.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lithium Americas

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

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.