Lithium Americas (NYSE:LAC) Stock Price Down 4% – Here’s What Happened

Lithium Americas Corp. (NYSE:LAC)’s stock price traded down 4% during mid-day trading on Tuesday . The company traded as low as $3.83 and last traded at $3.88. 2,196,237 shares were traded during mid-day trading, a decline of 59% from the average session volume of 5,405,404 shares. The stock had previously closed at $4.04.

Analyst Upgrades and Downgrades

LAC has been the subject of several recent research reports. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Scotiabank dropped their target price 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. Finally, B. Riley boosted their price target on Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.63.

Lithium Americas Stock Performance

The business has a fifty day simple moving average of $3.37 and a 200 day simple moving average of $3.04. The stock has a market cap of $875.02 million and a price-to-earnings ratio of -33.04.

Institutional Trading of Lithium Americas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fairscale Capital LLC acquired a new stake in shares of Lithium Americas during the 2nd quarter worth about $27,000. AE Wealth Management LLC acquired a new stake in Lithium Americas during the second quarter worth approximately $27,000. Evergreen Capital Management LLC purchased a new stake in Lithium Americas in the 2nd quarter worth approximately $27,000. Quent Capital LLC lifted its stake 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 worth $27,000 after purchasing an additional 5,000 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Lithium Americas during the second quarter worth $30,000.

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.