Lithium Americas (NYSE:LAC) Trading Down 1.3% – Here’s What Happened

Lithium Americas Corp. (NYSE:LAC) shares were down 1.3% on Friday . The stock traded as low as $4.50 and last traded at $4.73. Approximately 16,709,234 shares traded hands during trading, an increase of 2% from the average daily volume of 16,303,675 shares. The stock had previously closed at $4.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LAC shares. Canaccord Genuity Group upgraded shares of Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday. Cormark lowered Lithium Americas from a “moderate buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Wedbush increased their price objective on Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. TD Cowen reissued a “hold” rating and set a $5.00 target price on shares of Lithium Americas in a research note on Thursday, September 25th. Finally, TD Securities downgraded Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price target on the stock. in a report on Thursday, September 25th. Two research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Lithium Americas presently has an average rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Stock Performance

The stock’s 50-day simple moving average is $5.83 and its 200 day simple moving average is $3.87. The company has a market capitalization of $1.17 billion, a PE ratio of -4.50 and a beta of 1.41. The company has a debt-to-equity ratio of 0.84, a quick ratio of 9.88 and a current ratio of 3.77.

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

Insider Activity

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total value of $3,355,104.72. Following the transaction, the vice president owned 40,005 shares in the company, valued at approximately $379,247.40. This represents a 89.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Edward Grandy sold 6,183 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $4.50, for a total value of $27,823.50. Following the sale, the senior vice president directly owned 135,466 shares in the company, valued at $609,597. This trade represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 364,860 shares of company stock valued at $3,404,362. Insiders own 1.11% of the company’s stock.

Institutional Trading of Lithium Americas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Lithium Americas in the 1st quarter valued at $27,000. Harbour Investments Inc. lifted its position in Lithium Americas by 86.1% in the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock valued at $27,000 after acquiring an additional 4,580 shares during the last quarter. Quarry LP purchased a new stake in Lithium Americas in the third quarter valued at $28,000. Walleye Capital LLC acquired a new position in Lithium Americas in the second quarter valued at $28,000. Finally, IHT Wealth Management LLC acquired a new position in Lithium Americas in the second quarter valued at $28,000.

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.