Lithium Americas Corp. (NYSE:LAC - Get Free Report) was up 2.4% during trading on Thursday . The company traded as high as $8.43 and last traded at $8.06. Approximately 52,927,716 shares traded hands during trading, an increase of 298% from the average daily volume of 13,314,954 shares. The stock had previously closed at $7.87.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on LAC shares. Cowen cut shares of Lithium Americas from a "buy" rating to a "hold" rating in a research report on Wednesday, September 24th. TD Securities cut shares of Lithium Americas from a "buy" rating to a "hold" rating and set a $5.00 price target on the stock. in a research report on Thursday, September 25th. TD Cowen reiterated a "hold" rating and set a $5.00 price target on shares of Lithium Americas in a research report on Thursday, September 25th. Scotiabank restated a "sector underperform" rating and issued a $5.00 target price (up previously from $2.75) on shares of Lithium Americas in a report on Monday. Finally, BMO Capital Markets raised their target price on shares of Lithium Americas from $3.50 to $5.00 and gave the stock a "market perform" rating in a report on Thursday, October 2nd. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.33.
Read Our Latest Report on Lithium Americas
Lithium Americas Price Performance
The business has a 50 day moving average of $3.94 and a 200 day moving average of $3.19. The company has a market cap of $1.95 billion, a PE ratio of -35.04 and a beta of 1.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.88 and a quick ratio of 9.88.
Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). As a group, research analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current year.
Insider Buying and Selling
In other Lithium Americas news, VP Alexi Illya Zawadzki sold 353,914 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the completion of the transaction, the vice president owned 40,005 shares of the company's stock, valued at approximately $379,247.40. This trade represents a 89.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.11% of the company's stock.
Hedge Funds Weigh In On Lithium Americas
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gainplan LLC purchased a new position in Lithium Americas during the third quarter valued at $58,000. Teamwork Financial Advisors LLC lifted its position in Lithium Americas by 26.6% during the third quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company's stock valued at $7,319,000 after buying an additional 268,918 shares during the period. Osaic Holdings Inc. lifted its position in Lithium Americas by 71.2% during the second quarter. Osaic Holdings Inc. now owns 86,748 shares of the company's stock valued at $232,000 after buying an additional 36,086 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Lithium Americas by 72.4% during the second quarter. Tower Research Capital LLC TRC now owns 35,998 shares of the company's stock valued at $96,000 after acquiring an additional 15,123 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new position in shares of Lithium Americas during the second quarter valued at $28,000.
About Lithium Americas
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Lithium Americas, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lithium Americas wasn't on the list.
While Lithium Americas currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
