Lithium Americas (NYSE:LAC) Trading Down 1.8% – Time to Sell?

Lithium Americas Corp. (NYSE:LAC) shares traded down 1.8% during mid-day trading on Monday . The stock traded as low as $3.73 and last traded at $3.85. 3,093,075 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 5,286,632 shares. The stock had previously closed at $3.92.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Scotiabank reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lowered their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. B. Riley raised their price target on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.63.

Lithium Americas Trading Up 3.3 %

The firm has a market capitalization of $932.33 million and a P/E ratio of -36.75. The business’s fifty day moving average is $3.03 and its 200 day moving average is $3.07.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). As a group, sell-side analysts predict that Lithium Americas Corp. will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC raised its holdings in shares of Lithium Americas by 2,332.3% during the first quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock worth $52,000 after acquiring an additional 7,370 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Lithium Americas during the 2nd quarter worth about $27,000. Quent Capital LLC lifted its holdings in shares of Lithium Americas by 100.0% during the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after buying an additional 5,000 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in Lithium Americas in the second quarter worth approximately $27,000. Finally, AE Wealth Management LLC bought a new position in Lithium Americas during the second quarter valued at approximately $27,000.

Lithium Americas Company Profile

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.