Lithium Americas (NYSE:LAC) Shares Down 0.9% – Should You Sell?

Lithium Americas Corp. (NYSE:LAC)’s share price traded down 0.9% on Tuesday . The stock traded as low as $4.10 and last traded at $4.19. 6,949,215 shares were traded during trading, an increase of 30% from the average session volume of 5,333,414 shares. The stock had previously closed at $4.23.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Piper Sandler initiated coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. Finally, Scotiabank dropped 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 report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and a consensus price target of $5.63.

Lithium Americas Stock Down 3.1 %

The company has a market capitalization of $904.75 million and a P/E ratio of -34.33. The firm has a fifty day simple moving average of $2.99 and a 200-day simple moving average of $3.08.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, sell-side analysts predict that Lithium Americas Corp. will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas

Large investors have recently bought and sold shares of the company. Headlands Technologies LLC increased its stake in Lithium Americas by 2,332.3% in the 1st quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock valued at $52,000 after buying an additional 7,370 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of Lithium Americas in the 2nd quarter valued at about $27,000. Quent Capital LLC grew its stake in Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Lithium Americas in the second quarter valued at $27,000. Finally, AE Wealth Management LLC acquired a new position in Lithium Americas during the second quarter worth $27,000.

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.