Lithium Americas (NYSE:LAC) Trading Down 2.4% – Should You Sell?

Lithium Americas Corp. (NYSE:LAC) shares were down 2.4% during mid-day trading on Tuesday . The stock traded as low as $4.75 and last traded at $4.7650. Approximately 7,552,665 shares were traded during trading, a decline of 53% from the average daily volume of 15,968,101 shares. The stock had previously closed at $4.88.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LAC. TD Securities lowered Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a report on Thursday, September 25th. Jefferies Financial Group reduced their target price on Lithium Americas from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Scotiabank raised shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Wedbush increased their price objective on shares of Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Finally, TD Cowen reaffirmed a “hold” rating and set a $5.00 price objective on shares of Lithium Americas in a report on Thursday, September 25th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.33.

Lithium Americas Stock Down 2.4%

The company has a market cap of $1.45 billion, a P/E ratio of -4.54 and a beta of 1.39. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.77 and a quick ratio of 3.77. The business’s 50 day moving average price is $5.51 and its 200-day moving average price is $4.23.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. On average, analysts anticipate that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at Lithium Americas

In related news, 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 value of $27,823.50. Following the completion of the transaction, the senior vice president owned 135,466 shares in the company, valued at $609,597. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alexi Illya Zawadzki sold 353,914 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total value of $3,355,104.72. Following the completion of the transaction, the vice president owned 40,005 shares in the company, valued at $379,247.40. The trade was a 89.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 364,874 shares of company stock valued at $3,404,477. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors have recently modified their holdings of LAC. Nuveen LLC acquired a new position in shares of Lithium Americas in the 1st quarter valued at $504,000. American Century Companies Inc. bought a new stake in Lithium Americas in the first quarter valued at about $277,000. Decade Renewable Partners LP increased its holdings in Lithium Americas by 51.7% in the first quarter. Decade Renewable Partners LP now owns 680,100 shares of the company’s stock valued at $1,843,000 after purchasing an additional 231,900 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Lithium Americas by 44.9% in the first 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 during the period. Finally, Teamwork Financial Advisors LLC boosted its holdings in Lithium Americas by 18.1% during the second quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock worth $2,714,000 after buying an additional 155,068 shares during the last quarter.

About Lithium Americas

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.