Lithium Americas (NYSE:LAC) Stock Price Down 4.2% - What's Next?

Lithium Americas Corp. (NYSE:LAC - Get Free Report) shares fell 4.2% during mid-day trading on Wednesday . The company traded as low as $2.64 and last traded at $2.63. 711,439 shares were traded during mid-day trading, a decline of 87% from the average session volume of 5,468,380 shares. The stock had previously closed at $2.74.

Wall Street Analysts Forecast Growth

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

Lithium Americas Stock Performance

The company has a current ratio of 10.35, a quick ratio of 10.35 and a debt-to-equity ratio of 0.02. The company's 50-day simple moving average is $2.78 and its 200 day simple moving average is $2.89.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). On average, sell-side analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cacti Asset Management LLC acquired a new stake in shares of Lithium Americas in the first quarter valued at about $27,000. Members Wealth LLC acquired a new stake in shares of Lithium Americas in the first quarter valued at about $27,000. Ping Capital Management Inc. acquired a new stake in shares of Lithium Americas in the first quarter valued at about $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Lithium Americas in the first quarter valued at about $27,000. Finally, Mariner LLC acquired a new stake in shares of Lithium Americas in the fourth quarter valued at about $31,000.

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.