Lithium Americas (TSE:LAC) Shares Down 6.7% – Here’s Why

Lithium Americas Corp. (TSE:LAC)’s stock price traded down 6.7% on Tuesday . The stock traded as low as C$4.74 and last traded at C$4.77. 145,196 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 578,584 shares. The stock had previously closed at C$5.11.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. National Bank Financial upgraded shares of Lithium Americas from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Wedbush upgraded shares of Lithium Americas to a “hold” rating in a report on Thursday, December 19th. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Finally, National Bankshares boosted their target price on shares of Lithium Americas from C$7.25 to C$7.50 and gave the company an “outperform” rating in a report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$7.50.

Lithium Americas Trading Down 2.4 %

The firm has a 50-day moving average price of C$4.88 and a 200-day moving average price of C$4.23. The company has a debt-to-equity ratio of 0.69, a quick ratio of 52.06 and a current ratio of 20.15. The stock has a market cap of C$970.10 million, a PE ratio of -27.81 and a beta of 1.58.

Lithium Americas (TSE:LAC) last posted its quarterly earnings results on Tuesday, November 5th. The company reported C($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.03) by C$0.01. As a group, equities analysts anticipate that Lithium Americas Corp. will post 1.3803828 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lithium Americas news, Director Alun Robert Doyle bought 10,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was acquired at an average price of C$4.47 per share, with a total value of C$44,748.00. 7.40% of the stock is owned by insiders.

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.