Lithium Americas (NYSE:LAC) Shares Down 1.8% – Here’s Why

Lithium Americas Corp. (NYSE:LAC)’s stock price fell 1.8% on Monday . The company traded as low as $3.73 and last traded at $3.85. 3,093,075 shares were traded during mid-day trading, a decline of 41% from the average session volume of 5,286,632 shares. The stock had previously closed at $3.92.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LAC shares. B. Riley raised their price objective on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler initiated coverage on shares of Lithium Americas in a research note on Monday, July 29th. They set a “neutral” rating and a $3.90 target price for the company. Scotiabank reduced their target price 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. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Finally, BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.63.

Lithium Americas Price Performance

The firm has a 50 day simple moving average of $3.03 and a 200-day simple moving average of $3.07. The stock has a market capitalization of $932.33 million and a price-to-earnings ratio of -36.75.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LAC. Fairscale Capital LLC acquired a new stake in Lithium Americas in the 2nd quarter valued at about $27,000. AE Wealth Management LLC bought a new position in Lithium Americas in the 2nd quarter worth approximately $27,000. Evergreen Capital Management LLC acquired a new position in Lithium Americas during the 2nd quarter worth $27,000. 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 last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Lithium Americas in the 2nd quarter valued at $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.