Lithium Americas (NYSE:LAC) Trading Up 2.7% – Should You Buy?

Lithium Americas Corp. (NYSE:LAC) shares shot up 2.7% on Wednesday . The stock traded as high as $5.69 and last traded at $5.5950. 18,992,655 shares traded hands during trading, an increase of 11% from the average session volume of 17,100,070 shares. The stock had previously closed at $5.45.

Analysts Set New Price Targets

A number of analysts have weighed in on LAC shares. Wedbush increased their price target on Lithium Americas from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, October 1st. Cormark raised Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. Canaccord Genuity Group upgraded Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday, November 19th. Scotiabank raised Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.56.

Lithium Americas Stock Performance

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 fifty day moving average price of $4.96 and a 200 day moving average price of $4.43. The stock has a market cap of $1.63 billion, a P/E ratio of -5.13 and a beta of 1.57.

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

Insiders Place Their Bets

In related news, SVP Edward Grandy sold 6,183 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $4.50, for a total value of $27,823.50. Following the transaction, the senior vice president owned 135,466 shares of the company’s stock, valued at approximately $609,597. This trade represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 10,960 shares of company stock valued at $49,372. 1.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors have recently bought and sold shares of the stock. Traynor Capital Management Inc. raised its holdings in shares of Lithium Americas by 19.7% during the 3rd quarter. Traynor Capital Management Inc. now owns 12,449 shares of the company’s stock valued at $71,000 after buying an additional 2,046 shares in the last quarter. Lido Advisors LLC grew its position in Lithium Americas by 15.1% during the third quarter. Lido Advisors LLC now owns 16,643 shares of the company’s stock valued at $95,000 after acquiring an additional 2,183 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Lithium Americas by 16.1% during the third quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock worth $96,000 after acquiring an additional 2,321 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Lithium Americas by 3.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 67,650 shares of the company’s stock worth $394,000 after acquiring an additional 2,356 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lithium Americas by 0.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company’s stock valued at $1,405,000 after purchasing an additional 2,491 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.