Lithium Americas (NYSE:LAC) Stock Price Down 1.7% – What’s Next?

Shares of Lithium Americas Corp. (NYSE:LAC) traded down 1.7% on Thursday . The company traded as low as $3.71 and last traded at $3.7650. 9,385,671 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 8,483,982 shares. The stock had previously closed at $3.83.

Wall Street Analysts Forecast Growth

LAC has been the subject of several research analyst reports. Scotiabank decreased their target price on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research report on Monday, April 6th. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. The Goldman Sachs Group initiated coverage on shares of Lithium Americas in a report on Wednesday. They set a “neutral” rating and a $4.50 price objective for the company. Finally, Wedbush initiated coverage on shares of Lithium Americas in a research report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lithium Americas presently has an average rating of “Hold” and a consensus price target of $5.44.

Lithium Americas Trading Up 0.1%

The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.32 billion, a P/E ratio of -9.18 and a beta of 2.47. The company has a 50-day moving average price of $4.77 and a 200 day moving average price of $4.78.

Institutional Trading of Lithium Americas

Several hedge funds have recently modified their holdings of the company. VectorGlobal IAG Inc. acquired a new position in shares of Lithium Americas during the first quarter valued at about $76,000. J. Derek Lewis & Associates Inc. boosted its stake in Lithium Americas by 13.6% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 25,000 shares of the company’s stock worth $99,000 after purchasing an additional 3,000 shares in the last quarter. Western Wealth Management LLC acquired a new stake in Lithium Americas in the 1st quarter worth approximately $45,000. RBF Capital LLC purchased a new stake in Lithium Americas during the 1st quarter worth approximately $59,000. Finally, Amundi purchased a new stake in Lithium Americas during the 1st quarter worth approximately $124,000.

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.