Lithium Americas (NYSE:LAC) Trading Down 4.8% - Here's Why

Key Points

• Lithium Americas Corp. (NYSE:LAC) saw its share price decline by 4.8%, trading as low as $2.88, with a substantial drop in trading volume by 84% from average levels.
• Equities analysts have mixed views on the stock, with National Bankshares downgrading its rating while others maintain a price target around $4.50 to $5.00.
• The company reported a quarterly loss of ($0.05) earnings per share, which was below analysts' expectations, and is projected to have an annual EPS of -0.12.

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price traded down 4.8% during trading on Tuesday . The company traded as low as $2.88 and last traded at $2.91. 860,196 shares were traded during mid-day trading, a decline of 84% from the average session volume of 5,478,076 shares. The stock had previously closed at $3.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. National Bankshares lowered Lithium Americas from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 16th. Wedbush reissued a "neutral" rating and issued a $5.00 price target on shares of Lithium Americas in a research report on Friday, May 16th. Evercore ISI assumed coverage on Lithium Americas in a research report on Thursday, April 17th. They issued an "outperform" rating and a $4.50 price target for the company. Finally, National Bank Financial lowered Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $3.88.

Lithium Americas Stock Performance

The company has a quick ratio of 10.35, a current ratio of 10.35 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $2.78 and a 200 day moving average of $2.83. The firm has a market capitalization of $620.58 million, a PE ratio of -17.72 and a beta of 0.68.

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

Institutional Trading of Lithium Americas

A number of hedge funds have recently bought and sold shares of LAC. Cacti Asset Management LLC purchased a new stake in Lithium Americas during the first quarter valued at $27,000. Members Wealth LLC bought a new stake in Lithium Americas during the first quarter valued at about $27,000. Ping Capital Management Inc. bought a new stake in Lithium Americas during the first quarter valued at about $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Lithium Americas during the first quarter valued at about $27,000. Finally, Harbour Investments Inc. grew its holdings in Lithium Americas by 86.1% during the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company's stock valued at $27,000 after purchasing an additional 4,580 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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