Lithium Americas (TSE:LAC) Shares Down 4.4% – Should You Sell?

Shares of Lithium Americas Corp. (TSE:LAC) dropped 4.4% during trading on Wednesday . The company traded as low as C$5.97 and last traded at C$6.03. Approximately 176,232 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 766,160 shares. The stock had previously closed at C$6.31.

Analyst Ratings Changes

LAC has been the subject of a number of recent analyst reports. BMO Capital Markets raised Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Piper Sandler cut Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. National Bank Financial raised Lithium Americas from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, National Bankshares raised Lithium Americas from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$5.75 to C$7.25 in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$7.38.

Lithium Americas Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.69, a quick ratio of 52.06 and a current ratio of 20.15. The business has a 50-day simple moving average of C$3.78 and a two-hundred day simple moving average of C$4.46. The stock has a market cap of C$1.23 billion, a price-to-earnings ratio of -35.38 and a beta of 1.58.

Lithium Americas (TSE:LAC) last released its quarterly earnings results on Tuesday, August 13th. The company reported C($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.03) by C($0.04). As a group, research analysts forecast that Lithium Americas Corp. will post 1.3803828 EPS for the current year.

Insider Activity

In other news, Senior Officer Oleksandr Shulga sold 24,862 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$3.40, for a total value of C$84,530.80. 7.40% of the stock is currently owned by insiders.

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.