Lithium Americas (NYSE:LAC) Stock Price Down 4% – Should You Sell?

Shares of Lithium Americas Corp. (NYSE:LAC) dropped 4% during trading on Tuesday . The stock traded as low as $3.83 and last traded at $3.88. Approximately 2,196,237 shares were traded during trading, a decline of 59% from the average daily volume of 5,405,404 shares. The stock had previously closed at $4.04.

Wall Street Analysts Forecast Growth

LAC has been the subject of several research reports. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler started coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. B. Riley raised their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Scotiabank lowered 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 report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.63.

Lithium Americas Trading Down 4.2 %

The company has a market cap of $854.03 million and a PE ratio of -32.33. The company’s 50 day moving average is $3.31 and its 200 day moving average is $3.04.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its stake in Lithium Americas by 31.8% in the 3rd quarter. Tidal Investments LLC now owns 379,078 shares of the company’s stock worth $1,024,000 after buying an additional 91,353 shares during the period. Barclays PLC increased its position in Lithium Americas by 50.7% during the 3rd quarter. Barclays PLC now owns 115,208 shares of the company’s stock valued at $311,000 after purchasing an additional 38,781 shares during the period. Virtue Capital Management LLC purchased a new position in Lithium Americas during the 3rd quarter valued at about $135,000. Geode Capital Management LLC increased its position in Lithium Americas by 21.6% during the 3rd quarter. Geode Capital Management LLC now owns 103,275 shares of the company’s stock valued at $279,000 after purchasing an additional 18,321 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Lithium Americas during the 3rd quarter valued at about $161,000.

Lithium Americas Company Profile

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.