Lithium Americas (NYSE:LAC) Shares Down 4.9% – Here’s Why

Shares of Lithium Americas Corp. (NYSE:LAC) dropped 4.9% during trading on Monday . The company traded as low as $5.21 and last traded at $5.3550. Approximately 14,586,033 shares were traded during trading, a decline of 10% from the average daily volume of 16,256,804 shares. The stock had previously closed at $5.63.

Analysts Set New Price Targets

A number of research analysts have weighed in on LAC shares. Wedbush raised 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. Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. JPMorgan Chase & Co. raised Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Thursday, November 6th. Scotiabank raised Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, BMO Capital Markets lifted their price objective on shares of Lithium Americas from $3.50 to $5.00 and gave the stock a “market perform” rating in a report on Thursday, October 2nd. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Lithium Americas currently has an average rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Stock Performance

The company’s 50-day moving average is $6.14 and its two-hundred day moving average is $4.01. 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 company has a market cap of $1.59 billion, a P/E ratio of -5.00 and a beta of 1.40.

Lithium Americas (NYSE:LAC) last released its 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. Equities analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current year.

Insider Buying and Selling at Lithium Americas

In related news, SVP Edward Grandy sold 6,183 shares of the business’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 approximately $609,597. The trade was a 4.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Alexi Illya Zawadzki sold 353,914 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the sale, the vice president directly owned 40,005 shares in the company, valued at approximately $379,247.40. This trade represents a 89.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 364,874 shares of company stock worth $3,404,477. Corporate insiders own 1.11% of the company’s stock.

Institutional Trading of Lithium Americas

Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position 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 purchasing an additional 324,518 shares in the last quarter. Teamwork Financial Advisors LLC boosted its stake 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 valued at $2,714,000 after buying an additional 155,068 shares during the period. American Century Companies Inc. purchased a new position in Lithium Americas during the first quarter worth about $277,000. Nuveen LLC bought a new position in Lithium Americas in the 1st quarter worth about $504,000. Finally, Decade Renewable Partners LP raised its holdings in shares of Lithium Americas by 51.7% in the 1st quarter. Decade Renewable Partners LP now owns 680,100 shares of the company’s stock valued at $1,843,000 after acquiring an additional 231,900 shares in the last quarter.

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.