Lithium Americas (NYSE:LAC) Stock Price Down 4% – Time to Sell?

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LAC. Scotiabank reduced their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday, October 18th. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. B. Riley increased their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas has an average rating of “Hold” and an average target price of $5.63.

Lithium Americas Stock Up 1.7 %

The business’s 50 day moving average price is $3.37 and its 200-day moving average price is $3.04. The company has a market cap of $875.02 million and a PE ratio of -33.04.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV boosted its position in Lithium Americas by 39.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock valued at $35,000 after buying an additional 3,693 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Lithium Americas by 13.2% in the third quarter. National Bank of Canada FI now owns 37,129 shares of the company’s stock worth $100,000 after acquiring an additional 4,340 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Lithium Americas by 12.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock valued at $112,000 after purchasing an additional 4,504 shares during the last quarter. Cowen AND Company LLC grew its stake in Lithium Americas by 50.0% during the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock valued at $40,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Quent Capital LLC increased its holdings in 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 last quarter.

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.