Lithium Americas (NYSE:LAC) Shares Up 9.3% – Time to Buy?

Lithium Americas Corp. (NYSE:LAC) shares rose 9.3% during mid-day trading on Monday . The company traded as high as $5.28 and last traded at $5.2150. Approximately 16,362,762 shares changed hands during mid-day trading, an increase of 15% from the average daily volume of 14,170,080 shares. The stock had previously closed at $4.77.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LAC shares. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. TD Cowen reissued a “hold” rating and set a $5.00 price objective on shares of Lithium Americas in a report on Thursday, September 25th. Wedbush boosted their target price on shares of Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. raised shares of Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Thursday, November 6th. Finally, Jefferies Financial Group cut their price target on shares of Lithium Americas from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lithium Americas presently has an average rating of “Hold” and a consensus price target of $5.33.

Lithium Americas Trading Up 9.3%

The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77. The firm has a fifty day moving average price of $4.98 and a 200 day moving average price of $4.37.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. As a group, equities analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current year.

Insider Activity at Lithium Americas

In related news, SVP Edward Grandy sold 6,183 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $4.50, for a total value of $27,823.50. Following the completion of the sale, the senior vice president owned 135,466 shares of the company’s stock, valued at $609,597. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 10,960 shares of company stock worth $49,372 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 company. Harbour Investments Inc. increased its stake in shares of Lithium Americas by 86.1% in the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock valued at $27,000 after buying an additional 4,580 shares during the period. Quarry LP bought a new position in Lithium Americas in the third quarter valued at about $28,000. Walleye Capital LLC bought a new position in Lithium Americas in the second quarter valued at about $28,000. IHT Wealth Management LLC acquired a new stake in Lithium Americas in the second quarter worth about $28,000. Finally, International Assets Investment Management LLC acquired a new stake in Lithium Americas in the second quarter worth about $32,000.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.