Lithium Americas (NYSE:LAC) Sees Large Volume Increase - What's Next?

Key Points

• Lithium Americas saw a significant increase in trading volume, with 17,584,188 shares traded, marking a 37% rise from the previous day.
• Wall Street analysts have mixed views on LAC, with the stock being rated three times as a Buy, nine times as Hold, and three times as Sell, resulting in an average rating of "Hold."
• The stock recently missed earnings estimates, reporting (0.06) earnings per share compared to analysts' expectations of (0.04).

Lithium Americas Corp. (NYSE:LAC - Get Free Report) shares saw an uptick in trading volume on Wednesday . 17,584,188 shares traded hands during trading, an increase of 37% from the previous session's volume of 12,844,526 shares.The stock last traded at $8.37 and had previously closed at $8.27.

Wall Street Analyst Weigh In

Several research firms have commented on LAC. TD Securities lowered Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 price target on the stock. in a research report on Thursday, September 25th. Wedbush lifted their price target on Lithium Americas from $5.00 to $8.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 1st. 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. Weiss Ratings reissued a "sell (e+)" rating on shares of Lithium Americas in a report on Wednesday. Finally, Cowen lowered Lithium Americas from a "buy" rating to a "hold" rating in a report on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $5.33.

Lithium Americas Price Performance

The stock has a fifty day moving average of $3.73 and a two-hundred day moving average of $3.12. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -35.63 and a beta of 1.43. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). On average, equities research analysts anticipate that Lithium Americas Corp. will post -0.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Alexi Illya Zawadzki sold 353,914 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 1.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LAC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Lithium Americas by 1.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company's stock valued at $7,350,000 after purchasing an additional 45,941 shares during the last quarter. Invesco Ltd. grew its holdings in Lithium Americas by 38.0% in the second quarter. Invesco Ltd. now owns 1,666,561 shares of the company's stock valued at $4,466,000 after purchasing an additional 459,252 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Lithium Americas by 44.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company's stock valued at $2,836,000 after purchasing an additional 324,518 shares during the last quarter. Teamwork Financial Advisors LLC grew its holdings in Lithium Americas by 18.1% in the second quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company's stock valued at $2,714,000 after purchasing an additional 155,068 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in Lithium Americas by 3,173.0% in the second quarter. Bank of Montreal Can now owns 846,998 shares of the company's stock valued at $2,266,000 after purchasing an additional 821,120 shares during the last quarter.

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.

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