Lithium Americas (NYSE:LAC) Trading Up 1.1% – What’s Next?

Lithium Americas Corp. (NYSE:LAC) shares shot up 1.1% on Tuesday . The stock traded as high as $6.00 and last traded at $5.8250. 17,880,166 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 16,912,449 shares. The stock had previously closed at $5.76.

Analyst Ratings Changes

LAC has been the subject of a number of research analyst reports. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 19th. TD Securities downgraded Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price objective for the company. in a report on Thursday, September 25th. TD Cowen reiterated a “hold” rating and issued a $5.00 target price on shares of Lithium Americas in a report on Thursday, September 25th. BMO Capital Markets lifted 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 report on Thursday, October 2nd. Finally, Scotiabank boosted their price target on shares of Lithium Americas from $5.00 to $7.00 and gave the company a “sector perform” rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.81.

Lithium Americas Stock Performance

The company’s 50-day simple moving average is $4.97 and its 200 day simple moving average is $4.47. The stock has a market cap of $1.77 billion, a P/E ratio of -5.55 and a beta of 1.57. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.84.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. As a group, sell-side analysts expect that Lithium Americas Corp. will post -0.12 EPS for the current fiscal year.

Insider Activity at Lithium Americas

In other Lithium Americas news, SVP Edward Grandy sold 6,183 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $4.50, for a total transaction of $27,823.50. Following the completion of the transaction, the senior vice president directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 10,960 shares of company stock valued at $49,372. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Lithium Americas

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in shares of Lithium Americas by 44.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after buying an additional 324,518 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Lithium Americas by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 328,582 shares of the company’s stock valued at $874,000 after acquiring an additional 15,898 shares during the period. Revisor Wealth Management LLC raised its holdings in Lithium Americas by 16.2% during the 2nd quarter. Revisor Wealth Management LLC now owns 184,293 shares of the company’s stock valued at $525,000 after acquiring an additional 25,732 shares during the period. Perigon Wealth Management LLC lifted its position in shares of Lithium Americas by 63.2% during the second quarter. Perigon Wealth Management LLC now owns 25,824 shares of the company’s stock worth $69,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Independent Wealth Network Inc. boosted its holdings in shares of Lithium Americas by 3.4% in the second quarter. Independent Wealth Network Inc. now owns 239,255 shares of the company’s stock worth $641,000 after acquiring an additional 7,823 shares during the period.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.