Lithium Americas (NYSE:LAC) Trading Down 6.2% – What’s Next?

Lithium Americas Corp. (NYSE:LAC) shares were down 6.2% during trading on Friday . The stock traded as low as $3.61 and last traded at $3.63. Approximately 4,548,648 shares were traded during trading, a decline of 16% from the average daily volume of 5,403,176 shares. The stock had previously closed at $3.87.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LAC. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Scotiabank reduced their price target on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. B. Riley increased their price target on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. Finally, BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Lithium Americas presently has a consensus rating of “Hold” and an average target price of $5.63.

Lithium Americas Trading Down 4.4 %

The company has a market capitalization of $816.48 million and a price-to-earnings ratio of -30.25. The business’s 50 day moving average price is $3.10 and its two-hundred day moving average price is $3.09.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Analysts expect that Lithium Americas Corp. will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LAC. Fairscale Capital LLC bought a new position in shares of Lithium Americas during the second quarter worth about $27,000. AE Wealth Management LLC bought a new position in Lithium Americas during the second quarter worth $27,000. Evergreen Capital Management LLC acquired a new position in Lithium Americas in the second quarter valued at $27,000. Quent Capital LLC boosted its position in Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after acquiring an additional 5,000 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Lithium Americas during the 2nd quarter worth about $30,000.

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.