Lithium Americas (NYSE:LAC) Trading Down 7.5% – Should You Sell?

Lithium Americas Corp. (NYSE:LAC) shares traded down 7.5% during mid-day trading on Wednesday . The stock traded as low as $5.31 and last traded at $5.32. 4,431,960 shares traded hands during trading, a decline of 64% from the average session volume of 12,172,565 shares. The stock had previously closed at $5.75.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LAC. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Jefferies Financial Group restated a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Wedbush initiated coverage on shares of Lithium Americas in a research note on Monday, April 20th. They set a “neutral” rating and a $8.00 target price for the company. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Finally, Scotia dropped their price objective on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a report on Monday, May 25th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.56.

Lithium Americas Stock Down 8.7%

The business has a 50-day moving average price of $4.72 and a 200 day moving average price of $4.91. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.84 billion, a P/E ratio of -12.80 and a beta of 2.31.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.07. On average, equities analysts expect that Lithium Americas Corp. will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas

Several large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Lithium Americas in the 3rd quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC lifted its position in Lithium Americas by 149.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after buying an additional 3,550 shares during the last quarter. Main Street Group LTD purchased a new position in Lithium Americas during the first quarter worth $26,000. IFP Advisors Inc boosted its stake in Lithium Americas by 1,253.3% during the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock worth $28,000 after buying an additional 6,016 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in Lithium Americas during the fourth quarter valued at $42,000.

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.