Edward Grandy Sells 6,183 Shares of Lithium Americas (NYSE:LAC) Stock

Lithium Americas Corp. (NYSE:LAC) SVP Edward Grandy sold 6,183 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $4.50, for a total transaction of $27,823.50. Following the transaction, the senior vice president owned 135,466 shares of the company’s stock, valued at approximately $609,597. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lithium Americas Trading Up 2.5%

Shares of LAC stock opened at $5.12 on Thursday. Lithium Americas Corp. has a fifty-two week low of $2.31 and a fifty-two week high of $10.52. The stock’s fifty day moving average price is $5.80 and its two-hundred day moving average price is $3.87. The company has a debt-to-equity ratio of 0.84, a quick ratio of 9.88 and a current ratio of 3.77. The company has a market cap of $1.26 billion, a PE ratio of -4.87 and a beta of 1.41.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. Equities analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds have recently added to or reduced their stakes in LAC. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Lithium Americas during the first quarter valued at $27,000. Harbour Investments Inc. raised its position in Lithium Americas by 86.1% during the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock worth $27,000 after purchasing an additional 4,580 shares during the last quarter. Quarry LP bought a new position in Lithium Americas during the 3rd quarter worth $28,000. Walleye Capital LLC acquired a new position in Lithium Americas during the 2nd quarter worth about $28,000. Finally, IHT Wealth Management LLC bought a new stake in shares of Lithium Americas in the 2nd quarter valued at about $28,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LAC. BMO Capital Markets raised their price target on shares of Lithium Americas from $3.50 to $5.00 and gave the company a “market perform” rating in a research note on Thursday, October 2nd. Jefferies Financial Group dropped their price objective on shares of Lithium Americas from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Wedbush raised their target price on shares of Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. Cowen cut shares of Lithium Americas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Canaccord Genuity Group upgraded Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and an average price target of $5.33.

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.