Lithium Americas (NYSE:LAC) Shares Down 5.8% – Should You Sell?

Lithium Americas Corp. (NYSE:LAC)’s stock price was down 5.8% on Monday . The company traded as low as $4.80 and last traded at $4.8240. Approximately 13,133,384 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 16,056,888 shares. The stock had previously closed at $5.12.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LAC shares. BMO Capital Markets boosted their price objective on shares of Lithium Americas from $3.50 to $5.00 and gave the company a “market perform” rating in a report on Thursday, October 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, October 31st. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. JPMorgan Chase & Co. raised Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research note on Thursday, November 6th. Finally, TD Cowen reissued a “hold” rating and issued a $5.00 target price on shares of Lithium Americas in a research note on Thursday, September 25th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Price Performance

The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -4.38 and a beta of 1.40. The company has a 50 day simple moving average of $5.78 and a 200-day simple moving average of $4.17.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Research analysts expect that Lithium Americas Corp. will post -0.12 EPS for the current year.

Insider Buying and Selling

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total value of $3,355,104.72. Following the sale, the vice president owned 40,005 shares of the company’s stock, valued at $379,247.40. The trade was a 89.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Edward Grandy sold 6,183 shares of Lithium Americas stock in a transaction on Friday, November 14th. The shares were sold at an average price of $4.50, for a total transaction of $27,823.50. Following the completion of the sale, the senior vice president owned 135,466 shares in the company, valued at $609,597. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 364,874 shares of company stock worth $3,404,477 over the last quarter. 1.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Lithium Americas during the 3rd quarter worth approximately $28,000. Harbour Investments Inc. increased its holdings in Lithium Americas by 86.1% during the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock worth $27,000 after buying an additional 4,580 shares during the last quarter. Masso Torrence Wealth Management Inc. bought a new stake in Lithium Americas during the third quarter worth $57,000. Gainplan LLC acquired a new stake in Lithium Americas in the third quarter valued at $58,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Lithium Americas in the third quarter valued at $60,000.

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.