Lithium Americas (NYSE:LAC) Shares Down 8.2% - What's Next?

Key Points

• Lithium Americas fell 8.2% to $1.735 on Wednesday, with trading volume 69% below its average.
• Analyst sentiment is mixed: the stock has an average Hold rating and a $5.25 average price target, with four Buy, six Hold, and one Sell rating.
• The company reported a quarterly loss of $0.02 per share, beating analysts’ estimate of a $0.04 loss; analysts forecast a $0.07 loss per share for the current year.

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s stock price fell 8.2% on Wednesday. The company traded as low as $1.70 and last traded at $1.7350. 3,313,164 shares traded hands during trading, a decline of 69% from the average session volume of 10,635,920 shares. The stock had previously closed at $1.89.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LAC. Wall Street Zen raised Lithium Americas from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. Canaccord Genuity Group raised shares of Lithium Americas from a "hold" rating to a "speculative buy" rating in a research report on Thursday, October 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lithium Americas in a report on Thursday, October 22nd. JPMorgan Chase & Co. started coverage on shares of Lithium Americas in a report on Wednesday, September 9th. They set an "overweight" rating and a $6.00 target price on the stock. Finally, BMO Capital Markets set a $3.50 price target on shares of Lithium Americas in a research report on Tuesday, October 6th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $5.25.

Lithium Americas Price Performance

The business's 50 day moving average price is $2.47 and its 200-day moving average price is $3.82. The company has a quick ratio of 5.47, a current ratio of 5.47 and a debt-to-equity ratio of 0.81. The company has a market cap of $633.50 million, a PE ratio of -4.72 and a beta of 2.74.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. As a group, analysts forecast that Lithium Americas Corp. will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

Institutional investors and hedge funds have recently made changes to their positions in the business. Independent Advisor Alliance acquired a new stake in Lithium Americas in the third quarter valued at $32,000. Bogart Wealth LLC grew its holdings in Lithium Americas by 666.2% during the 3rd quarter. Bogart Wealth LLC now owns 23,002 shares of the company's stock worth $60,000 after acquiring an additional 20,000 shares in the last quarter. Cibc World Market Inc. grew its holdings in Lithium Americas by 62.9% during the 3rd quarter. Cibc World Market Inc. now owns 42,500 shares of the company's stock worth $112,000 after acquiring an additional 16,417 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Lithium Americas by 2,002.5% in the 3rd quarter. Bessemer Group Inc. now owns 29,435 shares of the company's stock worth $77,000 after purchasing an additional 28,035 shares during the last quarter. Finally, Lido Advisors LLC increased its position in shares of Lithium Americas by 50.7% in the 3rd quarter. Lido Advisors LLC now owns 16,017 shares of the company's stock worth $42,000 after purchasing an additional 5,391 shares during the last quarter.

Lithium Americas Company Profile

Lithium Americas Corp. is a Canadian company focused on developing lithium resources in North America. Its principal project is Thacker Pass, a lithium deposit in Humboldt County, Nevada, where the company plans to mine and process lithium-bearing claystone. The planned operation is designed to produce lithium carbonate for use in electric-vehicle batteries and energy storage systems. The project is intended to serve the North American battery supply chain; Lithium Americas is developing the resource rather than operating it as a producing mine.

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