Lithium Americas (NYSE:LAC) Trading Down 0.9% – Here’s Why

Lithium Americas Corp. (NYSE:LAC)’s share price fell 0.9% during mid-day trading on Tuesday . The company traded as low as $4.10 and last traded at $4.19. 6,949,215 shares were traded during mid-day trading, an increase of 30% from the average session volume of 5,333,414 shares. The stock had previously closed at $4.23.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LAC. B. Riley upped their price objective on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler began coverage on shares of Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective for the company. Scotiabank cut their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut 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 note on Friday, August 16th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.63.

Lithium Americas Trading Down 8.3 %

The firm has a market capitalization of $853.98 million and a P/E ratio of -33.17. The company’s fifty day simple moving average is $3.07 and its 200 day simple moving average is $3.08.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Creative Financial Designs Inc. ADV increased its stake in shares of Lithium Americas by 39.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock worth $35,000 after acquiring an additional 3,693 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Lithium Americas by 12.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock valued at $112,000 after purchasing an additional 4,504 shares during the last quarter. Cowen AND Company LLC grew its position in Lithium Americas by 50.0% during the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock valued at $40,000 after purchasing an additional 5,000 shares during the last quarter. Quent Capital LLC grew its position in Lithium Americas by 100.0% during the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in Lithium Americas by 37.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company’s stock valued at $59,000 after purchasing an additional 5,930 shares during the last quarter.

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.