Lithium Americas (NYSE:LAC) Stock Price Down 3.9% – Time to Sell?

Shares of Lithium Americas Corp. (NYSE:LAC) were down 3.9% during trading on Wednesday . The company traded as low as $4.58 and last traded at $4.5950. Approximately 13,297,350 shares traded hands during trading, a decline of 17% from the average daily volume of 16,016,894 shares. The stock had previously closed at $4.78.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LAC shares. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Cowen downgraded Lithium Americas from a “buy” rating to a “hold” rating in a report on Wednesday, September 24th. Cormark raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. TD Cowen restated a “hold” rating and issued a $5.00 price objective on shares of Lithium Americas in a report on Thursday, September 25th. Finally, 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 note on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lithium Americas currently has an average rating of “Hold” and an average price target of $5.33.

Lithium Americas Stock Down 3.9%

The firm has a 50-day moving average of $5.78 and a two-hundred day moving average of $4.17. 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 capitalization of $1.39 billion, a PE ratio of -4.38 and a beta of 1.40.

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, beating the consensus estimate of ($0.05) by $0.03. Equities research analysts predict that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at Lithium Americas

In related news, VP Alexi Illya Zawadzki sold 353,914 shares of the business’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 completion of the sale, the vice president owned 40,005 shares of the company’s stock, valued at $379,247.40. This represents a 89.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Edward Grandy sold 6,183 shares of Lithium Americas stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $4.50, for a total transaction of $27,823.50. Following the sale, the senior vice president owned 135,466 shares in the company, valued at approximately $609,597. This represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 364,874 shares of company stock valued at $3,404,477 in the last three months. 1.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lithium Americas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 324,518 shares during the last quarter. Teamwork Financial Advisors LLC increased its stake in Lithium Americas by 18.1% in the second quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock valued at $2,714,000 after purchasing an additional 155,068 shares in the last quarter. American Century Companies Inc. acquired a new position in Lithium Americas during the 1st quarter worth approximately $277,000. Nuveen LLC bought a new position in shares of Lithium Americas in the 1st quarter worth $504,000. Finally, Decade Renewable Partners LP grew its holdings in shares of Lithium Americas by 51.7% during the first quarter. Decade Renewable Partners LP now owns 680,100 shares of the company’s stock valued at $1,843,000 after buying an additional 231,900 shares during the last quarter.

Lithium Americas Company Profile

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.