Lithium Americas (NYSE:LAC) Shares Down 8.2% – Should You Sell?

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research report on Thursday, October 22nd. Canaccord Genuity Group upgraded shares of Lithium Americas from a “hold” rating to a “speculative buy” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. assumed coverage on shares of Lithium Americas in a research note on Wednesday, September 9th. They set an “overweight” rating and a $6.00 price objective on the stock. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, BMO Capital Markets set a $3.50 target price on Lithium Americas in a report on Tuesday, October 6th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.25.

Read Our Latest Stock Report on LAC

Lithium Americas Stock Performance

The company has a fifty day moving average price of $2.47 and a two-hundred day moving average price of $3.82. The firm has a market cap of $633.50 million, a price-to-earnings ratio of -4.72 and a beta of 2.74. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.47 and a quick ratio of 5.47.

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

Institutional Investors Weigh In On Lithium Americas

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Lithium Americas by 229.9% during the first quarter. Dimensional Fund Advisors LP now owns 565,135 shares of the company’s stock worth $2,231,000 after purchasing an additional 393,842 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Lithium Americas during the second quarter valued at $838,000. Bogart Wealth LLC lifted its holdings in shares of Lithium Americas by 666.2% during the third quarter. Bogart Wealth LLC now owns 23,002 shares of the company’s stock valued at $60,000 after purchasing an additional 20,000 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Lithium Americas by 23.6% during the third quarter. International Assets Investment Management LLC now owns 45,275 shares of the company’s stock valued at $116,000 after buying an additional 8,650 shares in the last quarter. Finally, Choreo LLC purchased a new stake in Lithium Americas during the third quarter valued at about $31,000.

Lithium Americas Company Profile

(Get Free Report)

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.

Further Reading

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