Traders Buy Large Volume of Call Options on Lithium Americas (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC - Get Free Report) was the recipient of unusually large options trading on Thursday. Stock investors acquired 8,130 call options on the company. This represents an increase of 237% compared to the typical volume of 2,413 call options.

Lithium Americas Price Performance

Lithium Americas stock remained flat at $2.85 during mid-day trading on Friday. 6,841,644 shares of the company's stock were exchanged, compared to its average volume of 5,542,005. The company has a fifty day moving average price of $2.78 and a two-hundred day moving average price of $2.89. The firm has a market capitalization of $623.87 million, a P/E ratio of -17.81 and a beta of 0.69. Lithium Americas has a twelve month low of $2.02 and a twelve month high of $5.20. The company has a quick ratio of 10.35, a current ratio of 10.35 and a debt-to-equity ratio of 0.02.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). As a group, equities research analysts predict that Lithium Americas will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

LAC has been the topic of several analyst reports. Wedbush reiterated a "neutral" rating and issued a $5.00 target price on shares of Lithium Americas in a research note on Friday, May 16th. National Bank Financial downgraded shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. National Bankshares lowered shares of Lithium Americas from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 16th. Scotiabank lowered their target price on shares of Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating for the company in a research note on Monday, March 31st. Finally, Evercore ISI began coverage on shares of Lithium Americas in a report on Thursday, April 17th. They issued an "outperform" rating and a $4.50 price target on the stock. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Lithium Americas has an average rating of "Hold" and an average price target of $3.88.

Institutional Trading of Lithium Americas

Several large investors have recently added to or reduced their stakes in LAC. Cacti Asset Management LLC acquired a new stake in shares of Lithium Americas during the first quarter worth about $27,000. Members Wealth LLC acquired a new stake in Lithium Americas during the 1st quarter valued at approximately $27,000. Ping Capital Management Inc. acquired a new stake in Lithium Americas during the 1st quarter valued at approximately $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Lithium Americas in the 1st quarter valued at $27,000. Finally, Mariner LLC acquired a new stake in shares of Lithium Americas in the fourth quarter worth $31,000.

Lithium Americas Company Profile

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.