Traders Purchase Large Volume of Lithium Americas Call Options (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) was the target of some unusual options trading activity on Tuesday. Stock investors bought 30,907 call options on the company. This is an increase of approximately 44% compared to the average volume of 21,509 call options.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LAC shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Scotiabank boosted their price objective on 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 Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research note on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.81.

Lithium Americas Price Performance

LAC opened at $4.28 on Thursday. Lithium Americas has a twelve month low of $2.31 and a twelve month high of $10.52. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -4.07 and a beta of 1.49. 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 company has a fifty day simple moving average of $5.08 and a 200 day simple moving average of $5.18.

Institutional Trading of Lithium Americas

Large investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its stake in shares of Lithium Americas by 158.1% during the 3rd quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock valued at $82,679,000 after buying an additional 8,868,971 shares during the last quarter. Teamwork Financial Advisors LLC grew its position in shares of Lithium Americas by 26.6% during the third quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company’s stock worth $7,319,000 after buying an additional 268,918 shares in the last quarter. Old West Investment Management LLC bought a new stake in shares of Lithium Americas in the third quarter worth $7,647,000. Reaves W H & Co. Inc. acquired a new stake in Lithium Americas in the third quarter valued at $1,142,000. Finally, Alps Advisors Inc. raised its holdings in Lithium Americas by 19.0% in the third quarter. Alps Advisors Inc. now owns 371,414 shares of the company’s stock valued at $2,121,000 after acquiring an additional 59,236 shares in the last quarter.

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.