Lithium Americas (NYSE:LAC) Stock Price Down 9.4% - Time to Sell?

Key Points

• Lithium Americas Corp. saw a significant stock price drop of 9.4% to $5.74 amidst a trading volume increase of 417%.
• Analysts have mixed views on the stock, with ratings ranging from buy to hold and a consensus target price of $4.72.
• The company reported a loss of $0.06 EPS for the last quarter, falling short of analyst estimates and forecasting an annual EPS of -0.12.

Lithium Americas Corp. (NYSE:LAC - Get Free Report) fell 9.4% during trading on Monday . The company traded as low as $5.51 and last traded at $5.74. 48,189,260 shares changed hands during mid-day trading, an increase of 417% from the average session volume of 9,318,471 shares. The stock had previously closed at $6.33.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Jefferies Financial Group lowered their price objective 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. Cormark raised Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. Cowen downgraded Lithium Americas from a "buy" rating to a "hold" rating in a research note on Wednesday. TD Cowen reaffirmed a "hold" rating and issued a $5.00 target price on shares of Lithium Americas in a research note on Thursday. Finally, TD Securities cut shares of Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 price target for the company. in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $4.72.

Lithium Americas Stock Down 9.4%

The business has a fifty day moving average of $3.19 and a 200 day moving average of $2.93. The company has a market capitalization of $1.39 billion, a PE ratio of -24.93 and a beta of 0.69. 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 announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). Equities research analysts anticipate that Lithium Americas Corp. will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp grew its position in shares of Lithium Americas by 3.9% during 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 lifted its stake in Lithium Americas by 33.9% during the second quarter. Axxcess Wealth Management LLC now owns 16,582 shares of the company's stock worth $44,000 after purchasing an additional 4,200 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Lithium Americas by 4.4% during the fourth quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company's stock worth $309,000 after purchasing an additional 4,379 shares during the last quarter. HITE Hedge Asset Management LLC lifted its stake in Lithium Americas by 0.6% during the first quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company's stock worth $1,994,000 after purchasing an additional 4,445 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in Lithium Americas by 86.1% during 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 during 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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