Lithium Americas (NYSE:LAC) Trading Down 7.2% - Here's What Happened

Key Points

• Lithium Americas Corp. experienced a significant decline in stock price, down 7.2% to $2.78, with trading volumes reduced by 60% compared to average levels.
• The company received mixed ratings from analysts, with a downgrade from National Bank Financial from "strong-buy" to "hold," while Cormark upgraded to "moderate buy," reflecting differing views on the stock's potential.
• Lithium Americas missed earnings estimates for the last quarter, reporting a loss of ($0.06) per share, with analysts predicting a further decline to ($0.12) per share for the current year.

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s stock price was down 7.2% on Tuesday . The company traded as low as $2.80 and last traded at $2.78. Approximately 2,223,026 shares were traded during trading, a decline of 60% from the average daily volume of 5,605,166 shares. The stock had previously closed at $2.99.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LAC shares. 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 downgraded shares of Lithium Americas from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 16th. Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. Finally, Wedbush reaffirmed a "neutral" rating and set a $5.00 price objective on shares of Lithium Americas in a research report on Friday, May 16th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Lithium Americas currently has a consensus rating of "Hold" and an average price target of $4.15.

Lithium Americas Price Performance

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 business's 50 day simple moving average is $2.84 and its 200-day simple moving average is $2.82. The stock has a market capitalization of $680.27 million, a price-to-earnings ratio of -12.24 and a beta of 0.69.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). Research analysts anticipate that Lithium Americas Corp. will post -0.12 earnings per share for the current year.

Institutional Trading of Lithium Americas

A number of institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in shares of Lithium Americas by 72.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 35,998 shares of the company's stock worth $96,000 after acquiring an additional 15,123 shares during the period. IHT Wealth Management LLC acquired a new stake in shares of Lithium Americas in the 2nd quarter worth approximately $28,000. Engineers Gate Manager LP lifted its stake in shares of Lithium Americas by 165.3% in the 2nd quarter. Engineers Gate Manager LP now owns 120,366 shares of the company's stock worth $322,000 after acquiring an additional 75,000 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Lithium Americas in the 2nd quarter worth approximately $1,057,000. Finally, Raymond James Financial Inc. lifted its stake in shares of Lithium Americas by 30.3% in the 2nd quarter. Raymond James Financial Inc. now owns 41,301 shares of the company's stock worth $111,000 after acquiring an additional 9,615 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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