Lithium Americas (NYSE:LAC) Shares Up 31.3% Following Insider Buying Activity

Key Points

• Lithium Americas Corp. (NYSE:LAC) saw its stock price surge by 31.3% to $9.01 following insider buying activity by VP Alexi Illya Zawadzki, who purchased 20,000 shares at an average price of $9.58.
• Analysts have mixed opinions on the stock, with TD Securities and Cowen downgrading their ratings to "hold," while Wedbush raised its price target from $5.00 to $8.00.
• The company's quarterly earnings results revealed a loss of ($0.06) per share, missing estimates, but analysts project an EPS of -0.12 for the current year.

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s stock price shot up 31.3% during trading on Friday following insider buying activity. The company traded as high as $9.33 and last traded at $9.01. 188,612,733 shares traded hands during trading, an increase of 1,461% from the average session volume of 12,079,408 shares. The stock had previously closed at $6.86.

Specifically, VP Alexi Illya Zawadzki purchased 20,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were acquired at an average cost of $9.58 per share, for a total transaction of $191,600.00. Following the transaction, the vice president owned 60,005 shares of the company's stock, valued at $574,847.90. This trade represents a 49.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

LAC has been the topic of a number of research reports. 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, September 25th. TD Cowen reiterated a "hold" rating and set a $5.00 price target on shares of Lithium Americas in a research report on Thursday, September 25th. Wedbush increased 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. BMO Capital Markets raised their target price on Lithium Americas from $3.50 to $5.00 and gave the company a "market perform" rating in a research report on Thursday. Finally, Cowen cut Lithium Americas from a "buy" rating to a "hold" rating in a research report on Wednesday, September 24th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of "Hold" and an average target price of $5.08.

Lithium Americas Trading Up 31.3%

The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -39.15 and a beta of 1.43. The firm has a 50-day moving average price of $3.50 and a 200-day moving average price of $3.05. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). As a group, sell-side analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas

Large investors have recently modified their holdings of the stock. Ping Capital Management Inc. bought a new stake in shares of Lithium Americas during the 1st quarter worth $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 worth $27,000. Members Wealth LLC acquired a new stake in shares of Lithium Americas in the first quarter worth $27,000. Harbour Investments Inc. boosted its position in shares of 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 during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Lithium Americas in the second quarter worth $28,000.

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.

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