Lithium Americas (NYSE:LAC) Stock Price Down 4.6% - What's Next?

Key Points

• Lithium Americas Corp. saw its stock price decline by 4.6%, trading as low as $7.81 from a previous close of $8.27, with a significant increase in trading volume.
• Recent analyst ratings show a consensus of "Hold" with an average target price of $5.33, while opinions have varied with downgrades from several firms.
• Company insider Alexi Illya Zawadzki sold 353,914 shares at an average price of $9.48, which represents a significant decrease in their holdings.

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s stock price was down 4.6% during trading on Wednesday . The company traded as low as $7.81 and last traded at $7.89. Approximately 64,164,544 shares changed hands during mid-day trading, an increase of 390% from the average daily volume of 13,105,465 shares. The stock had previously closed at $8.27.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LAC shares. BMO Capital Markets boosted their target price on Lithium Americas from $3.50 to $5.00 and gave the stock a "market perform" rating in a report on Thursday, October 2nd. TD Securities lowered Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 price objective on the stock. in a research note on Thursday, September 25th. Canaccord Genuity Group lowered Lithium Americas from a "speculative buy" rating to a "sell" rating in a research note on Thursday, October 2nd. Cowen lowered Lithium Americas from a "buy" rating to a "hold" rating in a research note on Wednesday, September 24th. Finally, Jefferies Financial Group reduced their price target on shares of 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 investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $5.33.

Lithium Americas Trading Down 4.6%

The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -34.30 and a beta of 1.43. The business's 50-day simple moving average is $3.73 and its 200-day simple moving average is $3.12.

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 the consensus estimate of ($0.04) by ($0.02). On average, research analysts expect that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Lithium Americas

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lithium Americas

Hedge funds have recently added to or reduced their stakes in the stock. Teamwork Financial Advisors LLC raised its position in shares of Lithium Americas by 26.6% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company's stock valued at $7,319,000 after acquiring an additional 268,918 shares during the period. Osaic Holdings Inc. raised its position in shares of Lithium Americas by 71.2% in the 2nd quarter. Osaic Holdings Inc. now owns 86,748 shares of the company's stock valued at $232,000 after acquiring an additional 36,086 shares during the period. Tower Research Capital LLC TRC raised its holdings in Lithium Americas by 72.4% in the second quarter. Tower Research Capital LLC TRC now owns 35,998 shares of the company's stock worth $96,000 after purchasing an additional 15,123 shares during the period. IHT Wealth Management LLC acquired a new stake in Lithium Americas in the second quarter worth $28,000. Finally, Engineers Gate Manager LP raised its holdings in Lithium Americas by 165.3% in the second quarter. Engineers Gate Manager LP now owns 120,366 shares of the company's stock worth $322,000 after purchasing an additional 75,000 shares during the period.

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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