Lithium Americas (TSE:LAC) Trading Down 27.8%

Shares of Lithium Americas Corp. (TSE:LAC) dropped 27.8% during mid-day trading on Thursday . The stock traded as low as C$6.42 and last traded at C$6.61. Approximately 804,613 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 600,825 shares. The stock had previously closed at C$9.16.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their target price on Lithium Americas from C$10.00 to C$7.50 and set a “neutral” rating on the stock in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$22.75.

Lithium Americas Trading Down 27.3 %

The company has a market cap of C$1.08 billion, a PE ratio of -216.33 and a beta of 1.58. The company has a debt-to-equity ratio of 0.97, a current ratio of 8.38 and a quick ratio of 52.06. The company has a 50-day moving average of C$7.80 and a 200 day moving average of C$8.78.

Lithium Americas (TSE:LAC) last released its quarterly earnings results on Friday, March 15th. The company reported C($0.11) EPS for the quarter, missing the consensus estimate of C($0.04) by C($0.07). Analysts predict that Lithium Americas Corp. will post 1.3803828 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Juan Diego Lopez Casanello purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was bought at an average price of C$4.54 per share, for a total transaction of C$45,400.00. 0.38% of the stock is currently owned by company 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.