Lithium Americas (NYSE:LAC) Shares Up 5.3% – What’s Next?

Lithium Americas Corp. (NYSE:LAC)’s stock price shot up 5.3% during trading on Friday . The stock traded as high as $4.85 and last traded at $4.76. 20,221,673 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 16,013,044 shares. The stock had previously closed at $4.52.

Wall Street Analyst Weigh In

Several brokerages recently commented on LAC. Cormark raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. BMO Capital Markets raised their price objective on shares of Lithium Americas from $3.50 to $5.00 and gave the stock 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 target price on the stock. in a research report on Thursday, September 25th. Cowen lowered Lithium Americas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Scotiabank raised Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.33.

Lithium Americas Trading Up 5.3%

The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -4.53 and a beta of 1.40. The firm has a fifty day moving average price of $5.64 and a 200-day moving average price of $4.18.

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

Insider Activity at Lithium Americas

In other news, SVP Edward Grandy sold 6,183 shares of Lithium Americas stock in a transaction on Friday, November 14th. The stock was sold at an average price of $4.50, for a total value of $27,823.50. Following the transaction, the senior vice president owned 135,466 shares in the company, valued at approximately $609,597. This trade represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alexi Illya Zawadzki sold 353,914 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total value of $3,355,104.72. Following the transaction, the vice president directly owned 40,005 shares of the company’s stock, valued at $379,247.40. This trade represents a 89.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 364,874 shares of company stock worth $3,404,477 in the last quarter. 1.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lithium Americas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Lithium Americas during the third quarter worth approximately $28,000. Harbour Investments Inc. boosted its holdings in shares of Lithium Americas by 86.1% during the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock worth $27,000 after buying an additional 4,580 shares in the last quarter. Masso Torrence Wealth Management Inc. acquired a new stake in shares of Lithium Americas during the 3rd quarter worth approximately $57,000. Gainplan LLC acquired a new position in shares of Lithium Americas during the 3rd quarter valued at $58,000. Finally, Oppenheimer & Co. Inc. bought a new position in Lithium Americas during the third quarter worth $60,000.

Lithium Americas Company Profile

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.