Lithium Americas (NYSE:LAC) Trading Down 4% - Should You Sell?

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price fell 4% during trading on Thursday . The company traded as low as $2.64 and last traded at $2.65. 759,521 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 5,431,624 shares. The stock had previously closed at $2.76.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. National Bank Financial downgraded shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Evercore ISI assumed coverage on shares of Lithium Americas in a research report on Thursday, April 17th. They set an "outperform" rating and a $4.50 target price on the stock. Scotiabank cut their price target on shares of Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating for the company in a report on Monday, March 31st. Wedbush reaffirmed a "neutral" rating and issued a $5.00 target price on shares of Lithium Americas in a research note on Friday, May 16th. Finally, National Bankshares downgraded shares of Lithium Americas from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 16th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $3.88.

Lithium Americas Stock Performance

The stock has a market cap of $577.91 million, a P/E ratio of -22.00 and a beta of 0.67. The company's 50 day moving average price is $2.80 and its 200-day moving average price is $3.00.

Lithium Americas (NYSE:LAC - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). On average, analysts forecast that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its holdings in shares of Lithium Americas by 29.5% during the fourth quarter. Jones Financial Companies Lllp now owns 87,350 shares of the company's stock valued at $259,000 after buying an additional 19,908 shares during the last quarter. Raymond James Financial Inc. bought a new position in Lithium Americas in the fourth quarter worth approximately $130,000. Ameriprise Financial Inc. raised its position in shares of Lithium Americas by 4.4% during the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company's stock valued at $309,000 after purchasing an additional 4,379 shares during the period. Prosperity Wealth Management Inc. bought a new stake in shares of Lithium Americas during the 4th quarter valued at $323,000. Finally, Quinn Opportunity Partners LLC grew its stake in Lithium Americas by 1,132.5% during the fourth quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company's stock valued at $2,411,000 after acquiring an additional 745,777 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.