Lithium Americas (NYSE:LAC) Trading 3.4% Higher – Here’s What Happened

Lithium Americas Corp. (NYSE:LAC) shares rose 3.4% on Thursday . The stock traded as high as $5.49 and last traded at $5.43. Approximately 12,882,942 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 16,207,226 shares. The stock had previously closed at $5.25.

Analyst Ratings Changes

Several research analysts have issued reports on LAC shares. TD Securities downgraded Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a report on Thursday, September 25th. BMO Capital Markets raised their price objective 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. Wedbush increased their price objective on shares of Lithium Americas from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Cowen lowered Lithium Americas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. raised Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Thursday, November 6th. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.33.

Lithium Americas Price Performance

The company’s 50-day moving average price is $6.08 and its two-hundred day moving average price is $4.05. 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 $1.62 billion, a P/E ratio of -5.08 and a beta of 1.40.

Lithium Americas (NYSE:LAC) last released its quarterly 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 EPS for the current year.

Insider Buying and Selling at Lithium Americas

In other Lithium Americas news, VP Alexi Illya Zawadzki sold 353,914 shares of the business’s stock in a transaction dated 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 owned 40,005 shares of the company’s stock, valued at $379,247.40. The trade was a 89.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Edward Grandy sold 6,183 shares of Lithium Americas 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 owned 135,466 shares of the company’s stock, valued at approximately $609,597. The trade was a 4.37% 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 quarter. Company insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

Large investors have recently modified their holdings of the business. Harbour Investments Inc. increased its position 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 purchasing an additional 4,580 shares during the period. Quarry LP acquired a new stake in shares of Lithium Americas during the third quarter worth $28,000. Walleye Capital LLC bought a new position in Lithium Americas during the second quarter worth $28,000. IHT Wealth Management LLC bought a new stake in Lithium Americas during the second quarter valued at $28,000. Finally, International Assets Investment Management LLC acquired a new stake in Lithium Americas during the 2nd quarter worth about $32,000.

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.