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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler lowered shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. National Bank Financial raised shares of Lithium Americas from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, National Bankshares raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$5.75 to C$7.25 in a research report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$7.38.

Lithium Americas Price Performance

The stock has a market cap of C$1.23 billion, a P/E ratio of -35.38 and a beta of 1.58. The company has a current ratio of 20.15, a quick ratio of 52.06 and a debt-to-equity ratio of 0.69. The company’s fifty day simple moving average is C$3.78 and its 200-day simple moving average is C$4.46.

Lithium Americas (TSE:LAC) last issued its earnings results on Tuesday, August 13th. The company reported C($0.07) EPS for the quarter, missing the consensus estimate of C($0.03) by C($0.04). As a group, sell-side analysts forecast that Lithium Americas Corp. will post 1.3803828 EPS for the current year.

Insiders Place Their Bets

In other Lithium Americas news, Senior Officer Oleksandr Shulga sold 24,862 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$3.40, for a total transaction of C$84,530.80. Company insiders own 7.40% of the company’s stock.

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.