Lithium Americas (NYSE:LAC) Shares Down 4.1% – Should You Sell?

Lithium Americas Corp. (NYSE:LAC) shares were down 4.1% on Wednesday . The company traded as low as $3.91 and last traded at $4.00. Approximately 4,646,882 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 5,219,225 shares. The stock had previously closed at $4.17.

Analyst Ratings Changes

Several research firms have recently issued reports on LAC. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. B. Riley cut their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Friday, August 16th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Finally, Scotiabank cut their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Lithium Americas presently has an average rating of “Hold” and a consensus target price of $5.50.

Lithium Americas Stock Down 5.5 %

The business’s 50 day moving average price is $2.90 and its 200-day moving average price is $3.10.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. As a group, sell-side analysts anticipate that Lithium Americas Corp. will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

Several hedge funds have recently bought and sold shares of LAC. Creative Financial Designs Inc. ADV increased its stake in Lithium Americas by 39.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock worth $35,000 after purchasing an additional 3,693 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $112,000 after buying an additional 4,504 shares during the period. Cowen AND Company LLC lifted its holdings in Lithium Americas by 50.0% during the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock worth $40,000 after buying an additional 5,000 shares in the last quarter. Quent Capital LLC boosted its position in Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after buying an additional 5,000 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in Lithium Americas by 37.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 21,926 shares of the company’s stock valued at $59,000 after buying an additional 5,930 shares during the period.

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.