Lithium Americas (NYSE:LAC) Shares Gap Down - Time to Sell?

Key Points

• Lithium Americas shares gapped down to $3.12 at market opening on Tuesday, following a previous close of $3.30, highlighting a potential concern for investors.
• Cormark upgraded Lithium Americas to a "moderate buy" rating, while the average target price for the stock is set at $4.15, with two analysts giving a buy rating and six a hold rating.
• The company reported a loss of ($0.06) earnings per share, missing analysts' expectations of ($0.04) for the last quarter.

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $3.30, but opened at $3.12. Lithium Americas shares last traded at $3.20, with a volume of 3,813,422 shares trading hands.

Analysts Set New Price Targets

Separately, Cormark upgraded Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $4.15.

Lithium Americas Trading Down 7.1%

The firm has a market capitalization of $740.69 million, a P/E ratio of -13.33 and a beta of 0.69. The firm has a 50-day moving average of $2.93 and a 200-day moving average of $2.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88.

Lithium Americas (NYSE:LAC - Get Free Report) last issued 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 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LAC. Mackenzie Financial Corp raised its holdings in shares of Lithium Americas by 3.9% in the fourth quarter. Mackenzie Financial Corp now owns 87,701 shares of the company's stock worth $262,000 after buying an additional 3,310 shares during the period. Axxcess Wealth Management LLC raised its holdings in shares of Lithium Americas by 33.9% in the second quarter. Axxcess Wealth Management LLC now owns 16,582 shares of the company's stock worth $44,000 after buying an additional 4,200 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Lithium Americas by 4.4% in the fourth quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company's stock worth $309,000 after buying an additional 4,379 shares during the period. HITE Hedge Asset Management LLC raised its holdings in shares of Lithium Americas by 0.6% in the first quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company's stock worth $1,994,000 after buying an additional 4,445 shares during the period. Finally, Harbour Investments Inc. grew its stake in Lithium Americas by 86.1% in the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock worth $27,000 after purchasing an additional 4,580 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.