Lithium Americas (NYSE:LAC) Shares Down 5.4% - Should You Sell?

Lithium Americas Corp. (NYSE:LAC - Get Free Report)'s share price was down 5.4% during mid-day trading on Friday . The company traded as low as $3.82 and last traded at $3.87. Approximately 4,187,625 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 5,268,829 shares. The stock had previously closed at $4.09.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LAC shares. B. Riley reduced their target price on shares of Lithium Americas from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Friday, August 16th. BMO Capital Markets raised 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 research note on Thursday, October 17th. Piper Sandler assumed coverage on shares of Lithium Americas in a research note on Monday, July 29th. They issued a "neutral" rating and a $3.90 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a "hold" rating on the stock in a research report on Friday, August 16th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Lithium Americas currently has a consensus rating of "Hold" and a consensus price target of $5.50.

Lithium Americas Stock Performance

The stock has a 50 day moving average price of $2.90 and a 200 day moving average price of $3.10.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. Sell-side analysts anticipate that Lithium Americas Corp. will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC bought a new stake in Lithium Americas in the 2nd quarter worth $520,000. Marshall Wace LLP bought a new position in shares of Lithium Americas during the second quarter valued at approximately $10,252,000. Merewether Investment Management LP purchased a new position in shares of Lithium Americas during the second quarter valued at about $858,000. Point72 Asset Management L.P. lifted its position in Lithium Americas by 580.1% during the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company's stock valued at $4,977,000 after buying an additional 1,584,123 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Lithium Americas during the first quarter valued at approximately $202,000.

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.

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