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

Key Points

• Lithium Americas shares gapped down from $6.33 to $6.15, closing at $5.87 with significant trading volume of 17,688,303 shares.
• Research analysts have downgraded the stock's rating from "buy" to "hold," with TD Securities setting a price target of $5.00 and a consensus rating of "Hold" with an average target price of $4.72.
• The company reported a quarterly loss with earnings per share of ($0.06), missing the consensus estimate, and is projected to post a higher loss of ($0.12) EPS for the current fiscal year.

Lithium Americas Corp. (NYSE:LAC - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $6.33, but opened at $6.15. Lithium Americas shares last traded at $5.87, with a volume of 17,688,303 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Securities cut 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. Cowen cut Lithium Americas from a "buy" rating to a "hold" rating in a research report on Wednesday. Cormark upgraded Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. TD Cowen reiterated a "hold" rating and set a $5.00 price target on shares of Lithium Americas in a research report on Thursday. Finally, Jefferies Financial Group decreased their price target on Lithium Americas from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.72.

Lithium Americas Stock Performance

The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33. The company's 50-day moving average is $3.14 and its two-hundred day moving average is $2.91. The company has a market capitalization of $1.37 billion, a P/E ratio of -24.72 and a beta of 0.69.

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

Institutional Trading of Lithium Americas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its stake in 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 in the last quarter. Axxcess Wealth Management LLC boosted its stake in 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 in the last quarter. Ameriprise Financial Inc. boosted its stake in 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 in the last quarter. HITE Hedge Asset Management LLC boosted its stake in 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 in the last quarter. Finally, Harbour Investments Inc. boosted 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 buying 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.

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