Lithium Americas (NYSE:LAC) Shares Down 3.5% – Time to Sell?

Lithium Americas Corp. (NYSE:LAC) shares traded down 3.5% on Monday . The company traded as low as $4.49 and last traded at $4.5250. 9,433,403 shares changed hands during trading, a decline of 41% from the average session volume of 15,872,977 shares. The stock had previously closed at $4.69.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LAC. Cormark raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. BMO Capital Markets upped their price target on Lithium Americas from $3.50 to $5.00 and gave the company a “market perform” rating in a research report on Thursday, October 2nd. TD Securities downgraded Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a research report on Thursday, September 25th. Wedbush boosted their price objective on Lithium Americas from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Finally, Canaccord Genuity Group upgraded Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Stock Performance

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 company has a market cap of $1.32 billion, a price-to-earnings ratio of -4.13 and a beta of 1.39. The firm has a 50 day simple moving average of $5.12 and a 200-day simple moving average of $4.31.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. As a group, analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lithium Americas news, 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 completion of the sale, the senior vice president directly owned 135,466 shares in the company, valued at $609,597. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 10,960 shares of company stock worth $49,372 over the last ninety days. Company insiders own 1.11% of the company’s stock.

Hedge Funds Weigh In On Lithium Americas

A number of hedge funds have recently made changes to their positions in LAC. Harbour Investments Inc. raised its position in Lithium Americas by 86.1% in the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock valued at $27,000 after purchasing an additional 4,580 shares during the period. Quarry LP acquired a new stake in shares of Lithium Americas in the third quarter valued at $28,000. Walleye Capital LLC purchased a new stake in shares of Lithium Americas in the 2nd quarter valued at $28,000. IHT Wealth Management LLC acquired a new position in Lithium Americas during the 2nd quarter worth about $28,000. Finally, International Assets Investment Management LLC acquired a new position in Lithium Americas during the 2nd quarter worth about $32,000.

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.