Lithium Americas Sees Unusually Large Options Volume (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) saw some unusual options trading activity on Monday. Investors acquired 7,100 call options on the company. This represents an increase of approximately 80% compared to the typical volume of 3,951 call options.

Lithium Americas Stock Down 9.0 %

NYSE:LAC traded down $0.40 during trading hours on Wednesday, hitting $4.11. 16,704,630 shares of the company were exchanged, compared to its average volume of 5,134,449. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $7.86. The company’s 50 day moving average price is $2.72 and its 200-day moving average price is $3.15.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Analysts anticipate that Lithium Americas will post -0.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LAC. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. B. Riley reduced their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, Scotiabank reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.50.

Institutional Trading of Lithium Americas

Several large investors have recently made changes to their positions in LAC. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Lithium Americas by 8.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock valued at $1,627,000 after acquiring an additional 18,388 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Lithium Americas in the 1st quarter valued at $101,000. Teamwork Financial Advisors LLC purchased a new stake in shares of Lithium Americas in the 1st quarter valued at $68,000. Van ECK Associates Corp lifted its stake in shares of Lithium Americas by 14.5% in the 1st quarter. Van ECK Associates Corp now owns 2,327,978 shares of the company’s stock valued at $15,644,000 after purchasing an additional 294,581 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of Lithium Americas in the 1st quarter valued at $202,000.

About Lithium Americas

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.