Lithium Americas Target of Unusually Large Options Trading (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) was the target of unusually large options trading activity on Tuesday. Stock investors bought 30,907 call options on the stock. This represents an increase of 44% compared to the average daily volume of 21,509 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research note on Wednesday, January 28th. Scotiabank increased their price target on shares of Lithium Americas from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, January 12th. Cormark raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Jefferies Financial Group restated a “buy” rating on shares of Lithium Americas in a report on Monday, February 23rd. Finally, TD Securities raised shares of Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.81.

Hedge Funds Weigh In On Lithium Americas

Institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its holdings in Lithium Americas by 149.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock worth $26,000 after acquiring an additional 3,550 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Lithium Americas by 1,253.3% in the fourth quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock worth $28,000 after buying an additional 6,016 shares in the last quarter. Quarry LP acquired a new position in Lithium Americas in the third quarter valued at about $28,000. Walleye Capital LLC acquired a new position in Lithium Americas during the 2nd quarter worth approximately $28,000. Finally, IHT Wealth Management LLC purchased a new stake in shares of Lithium Americas in the 2nd quarter valued at approximately $28,000.

Lithium Americas Stock Performance

Shares of NYSE LAC traded up $0.13 during trading on Tuesday, reaching $4.52. 4,289,481 shares of the company traded hands, compared to its average volume of 13,382,104. The firm has a 50 day simple moving average of $5.12 and a 200-day simple moving average of $5.18. Lithium Americas has a 52-week low of $2.31 and a 52-week high of $10.52. The stock has a market capitalization of $1.37 billion, a PE ratio of -4.29 and a beta of 1.48. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84.

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.