Lithium Americas (NYSE:LAC) Trading Down 3.5% – Here’s What Happened

Lithium Americas Corp. (NYSE:LAC)’s stock price traded down 3.5% on Monday . The stock traded as low as $4.49 and last traded at $4.5250. 9,433,403 shares changed hands during mid-day 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 Analyst Weigh In

LAC has been the subject of a number of research reports. TD Cowen reissued a “hold” rating and issued a $5.00 target price on shares of Lithium Americas in a report on Thursday, September 25th. Cowen cut shares of Lithium Americas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Scotiabank raised shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. upgraded Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and an average target price of $5.33.

Lithium Americas Price Performance

The firm has a market capitalization of $1.37 billion, a P/E ratio of -4.31 and a beta of 1.39. The company has a fifty 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.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Sell-side analysts predict that Lithium Americas Corp. will post -0.12 earnings per share 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 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 in the company, valued at approximately $609,597. The trade was a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Alexi Illya Zawadzki sold 353,914 shares of Lithium Americas stock in a transaction dated 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 owned 40,005 shares of the company’s stock, valued at $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 ninety days. 1.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new stake in Lithium Americas during the third quarter worth about $120,000. Second Line Capital LLC bought a new position in shares of Lithium Americas during the 3rd quarter valued at approximately $116,000. PharVision Advisers LLC purchased a new stake in shares of Lithium Americas during the 3rd quarter worth approximately $169,000. XTX Topco Ltd purchased a new stake in Lithium Americas in the third quarter worth $603,000. Finally, Victory Financial Group LLC purchased a new stake in Lithium Americas in the 3rd quarter worth about $169,000.

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.