Traders Buy Large Volume of Call Options on Lithium Americas (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) was the target of unusually large options trading on Tuesday. Stock investors acquired 62,059 call options on the stock. This is an increase of approximately 197% compared to the average volume of 20,929 call options.

Hedge Funds Weigh In On Lithium Americas

Institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Lithium Americas in the third quarter worth $28,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Lithium Americas by 149.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after acquiring an additional 3,550 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Lithium Americas by 1,253.3% in the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock worth $28,000 after acquiring an additional 6,016 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Lithium Americas in the fourth quarter worth $42,000. Finally, Masso Torrence Wealth Management Inc. acquired a new position in Lithium Americas in the third quarter valued at $57,000.

Analysts Set New Price Targets

Several research analysts have commented on LAC shares. Wedbush started coverage on Lithium Americas in a research report on Monday, April 20th. They set a “neutral” rating and a $8.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Wednesday, January 28th. Wall Street Zen raised Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Scotiabank cut their price target on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Monday, April 6th. Finally, TD Securities raised Lithium Americas to a “hold” rating in a research report on Monday, February 9th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.71.

Lithium Americas Stock Up 13.0%

Lithium Americas stock opened at $5.25 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.16 and a quick ratio of 5.16. Lithium Americas has a 1-year low of $2.47 and a 1-year high of $10.52. The company has a market cap of $1.82 billion, a PE ratio of -11.40 and a beta of 1.81. The stock’s 50 day moving average price is $4.46 and its 200 day moving average price is $5.09.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.33). On average, sell-side analysts predict that Lithium Americas will post -0.3 EPS for the current fiscal year.

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.