Lithium Americas (NYSE:LAC) Stock Price 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.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on LAC. 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. National Bankshares cut shares of Lithium Americas from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 16th. Finally, Wedbush restated a "neutral" rating and issued a $5.00 target price on shares of Lithium Americas in a research note 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 stock has an average rating of "Hold" and an average price target of $3.88.

Lithium Americas Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 10.35 and a quick ratio of 10.35. The company's 50 day moving average is $2.79 and its 200 day moving average is $2.83. The stock has a market cap of $634.81 million, a price-to-earnings ratio of -12.61 and a beta of 0.68.

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 the consensus estimate of ($0.04) by ($0.02). Research analysts forecast that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently added to or reduced their stakes in LAC. Raymond James Financial Inc. purchased a new position in Lithium Americas during the 4th quarter valued at about $130,000. Barclays PLC increased its holdings in Lithium Americas by 28.1% during the 4th quarter. Barclays PLC now owns 147,633 shares of the company's stock valued at $438,000 after acquiring an additional 32,425 shares in the last quarter. Mariner LLC purchased a new position in Lithium Americas during the 4th quarter valued at about $31,000. XTX Topco Ltd increased its holdings in Lithium Americas by 145.7% during the 4th quarter. XTX Topco Ltd now owns 121,247 shares of the company's stock valued at $360,000 after acquiring an additional 71,895 shares in the last quarter. Finally, HITE Hedge Asset Management LLC increased its holdings in Lithium Americas by 150.9% during the 4th quarter. HITE Hedge Asset Management LLC now owns 731,473 shares of the company's stock valued at $2,172,000 after acquiring an additional 439,974 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.