Lithium Americas (NYSE:LAC) Shares Down 8.7% – Time to Sell?

Shares of Lithium Americas Corp. (NYSE:LAC) dropped 8.7% on Thursday . The company traded as low as $3.76 and last traded at $3.9090. Approximately 6,947,876 shares were traded during trading, a decline of 47% from the average daily volume of 13,179,264 shares. The stock had previously closed at $4.28.

Analyst Upgrades and Downgrades

LAC has been the subject of several research reports. Scotiabank increased their target price on Lithium Americas from $5.00 to $7.00 and gave the company a “sector perform” rating in a research report on Monday, January 12th. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Jefferies Financial Group reiterated a “buy” rating on shares of Lithium Americas in a report on Monday, February 23rd. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Finally, TD Securities upgraded shares of Lithium Americas to a “hold” rating in a research report 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 company’s stock. According to MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and an average price target of $5.81.

Lithium Americas Price Performance

The company has a fifty day simple moving average of $5.08 and a 200 day simple moving average of $5.18. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -3.81 and a beta of 1.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77.

Institutional Trading of Lithium Americas

Institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC raised 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 purchasing an additional 3,550 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Lithium Americas by 1,253.3% in the 4th quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock valued at $28,000 after purchasing an additional 6,016 shares during the last quarter. Quarry LP acquired a new stake in shares of Lithium Americas during the third quarter worth $28,000. Walleye Capital LLC bought a new position in Lithium Americas during the second quarter worth $28,000. Finally, IHT Wealth Management LLC acquired a new position in Lithium Americas in the second quarter valued at $28,000.

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.