Lithium Americas (NYSE:LAC) Shares Up 1.1% – Time to Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LAC shares. Jefferies Financial Group decreased their price target on Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, October 31st. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. TD Securities lowered shares of Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price target for the company. in a research report on Thursday, September 25th. Finally, Cowen cut shares of Lithium Americas from a “buy” rating to a “hold” rating in a report on Wednesday, September 24th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.81.

Lithium Americas Stock Up 1.1%

The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84. The stock has a 50-day simple moving average of $4.97 and a two-hundred day simple moving average of $4.47. The firm has a market cap of $1.77 billion, a PE ratio of -5.55 and a beta of 1.57.

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

Insider Activity

In related news, SVP Edward Grandy sold 6,183 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 135,466 shares in the company, valued at $609,597. This represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 10,960 shares of company stock worth $49,372 over the last quarter. 1.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAC. Wealth Enhancement Advisory Services LLC grew its holdings in Lithium Americas by 0.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company’s stock worth $1,405,000 after acquiring an additional 2,491 shares during the last quarter. Occidental Asset Management LLC purchased a new stake in shares of Lithium Americas during the fourth quarter worth about $148,000. Tudor Investment Corp ET AL bought a new stake in shares of Lithium Americas in the third quarter worth about $120,000. Second Line Capital LLC bought a new stake in shares of Lithium Americas in the third quarter worth about $116,000. Finally, PharVision Advisers LLC purchased a new position in Lithium Americas during the 3rd quarter valued at about $169,000.

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.