Lithium Americas Sees Unusually Large Options Volume (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) was the target of some unusual options trading on Wednesday. Investors bought 14,910 call options on the company. This is an increase of approximately 80% compared to the average daily volume of 8,302 call options.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LAC. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Thursday, October 22nd. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Canaccord Genuity Group upgraded Lithium Americas from a “hold” rating to a “speculative buy” rating in a research note on Thursday, October 15th. JPMorgan Chase & Co. started coverage on shares of Lithium Americas in a research note on Wednesday, September 9th. They set an “overweight” rating and a $6.00 price objective on the stock. Finally, BMO Capital Markets set a $3.50 target price on Lithium Americas in a research report on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.25.

Lithium Americas Stock Performance

Shares of LAC traded down $0.23 during mid-day trading on Wednesday, reaching $1.67. 16,290,792 shares of the company’s stock traded hands, compared to its average volume of 10,691,148. The business’s 50-day moving average price is $2.47 and its 200-day moving average price is $3.82. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.47 and a current ratio of 5.47. The stock has a market capitalization of $604.46 million, a P/E ratio of -4.50 and a beta of 2.74. Lithium Americas has a 12 month low of $1.68 and a 12 month high of $6.96.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. Equities analysts predict that Lithium Americas will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

A number of institutional investors and hedge funds have recently bought and sold shares of LAC. Main Street Group LTD acquired a new position in Lithium Americas during the 1st quarter valued at about $26,000. Keebeck Wealth Management acquired a new stake in shares of Lithium Americas in the 2nd quarter worth approximately $38,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of Lithium Americas in the third quarter valued at approximately $29,000. Western Wealth Management LLC bought a new position in shares of Lithium Americas in the first quarter valued at approximately $45,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of Lithium Americas during the first quarter valued at approximately $46,000.

About Lithium Americas

Lithium Americas Corp. is a Canadian company focused on developing lithium resources in North America. Its principal project is Thacker Pass, a lithium deposit in Humboldt County, Nevada, where the company plans to mine and process lithium-bearing claystone. The planned operation is designed to produce lithium carbonate for use in electric-vehicle batteries and energy storage systems. The project is intended to serve the North American battery supply chain; Lithium Americas is developing the resource rather than operating it as a producing mine.