Lithium Americas (NYSE:LAC) Stock Price Down 4.9% – What’s Next?

Lithium Americas Corp. (NYSE:LAC) shares dropped 4.9% during mid-day trading on Thursday . The stock traded as low as $4.55 and last traded at $4.63. Approximately 16,272,918 shares changed hands during trading, an increase of 0% from the average daily volume of 16,197,554 shares. The stock had previously closed at $4.87.

Analyst Upgrades and Downgrades

LAC has been the subject of a number of research analyst reports. TD Cowen reiterated a “hold” rating and issued a $5.00 price target on shares of Lithium Americas in a research note on Thursday, September 25th. JPMorgan Chase & Co. raised shares of Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Thursday, November 6th. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday. BMO Capital Markets raised their price target on Lithium Americas from $3.50 to $5.00 and gave the stock a “market perform” rating in a research note on Thursday, October 2nd. Finally, Jefferies Financial Group reduced their price objective on Lithium Americas from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.33.

Lithium Americas Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88. The stock has a market cap of $1.10 billion, a P/E ratio of -4.25 and a beta of 1.41. The business’s 50-day moving average price is $5.67 and its 200-day moving average price is $3.82.

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

Insider Transactions at Lithium Americas

In related news, 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 value of $3,355,104.72. Following the completion of the sale, the vice president directly owned 40,005 shares of the company’s stock, valued at approximately $379,247.40. This represents a 89.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently modified their holdings of LAC. Traynor Capital Management Inc. grew its holdings in Lithium Americas by 19.7% in the third quarter. Traynor Capital Management Inc. now owns 12,449 shares of the company’s stock worth $71,000 after purchasing an additional 2,046 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Lithium Americas by 16.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock worth $96,000 after purchasing an additional 2,321 shares in the last quarter. Raymond James Financial Inc. grew its stake in Lithium Americas by 9.2% during the 3rd quarter. Raymond James Financial Inc. now owns 45,090 shares of the company’s stock worth $257,000 after buying an additional 3,789 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in Lithium Americas by 33.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 16,582 shares of the company’s stock worth $44,000 after buying an additional 4,200 shares during the last quarter. Finally, HITE Hedge Asset Management LLC increased its position in Lithium Americas by 0.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company’s stock valued at $1,994,000 after buying an additional 4,445 shares in the last quarter.

About Lithium Americas

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.