Lithium Americas (NYSE:LAC) Trading Down 5.2% - Here's Why

Shares of Lithium Americas Corp. (NYSE:LAC - Get Free Report) fell 5.2% during trading on Tuesday . The company traded as low as $2.52 and last traded at $2.49. 1,257,181 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 5,649,993 shares. The stock had previously closed at $2.62.

Analysts Set New Price Targets

Several analysts have recently weighed in on LAC shares. Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a research report on Friday, January 17th. Scotiabank dropped their price target on Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating for the company in a research note on Monday, March 31st. National Bankshares reiterated an "outperform" rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Piper Sandler decreased their price objective on Lithium Americas from $3.90 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Wedbush began coverage on Lithium Americas in a research note on Thursday, December 19th. They issued a "neutral" rating and a $5.00 target price for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $4.84.

Lithium Americas Stock Up 6.3 %

The stock has a market cap of $593.64 million, a P/E ratio of -22.42 and a beta of 1.01. The company has a 50-day simple moving average of $2.85 and a two-hundred day simple moving average of $3.19.

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Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings results on Friday, March 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). As a group, sell-side analysts forecast that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC increased its stake in shares of Lithium Americas by 13.4% during the third quarter. HighTower Advisors LLC now owns 50,473 shares of the company's stock valued at $138,000 after buying an additional 5,952 shares during the period. National Bank of Canada FI increased its position in Lithium Americas by 13.2% during the 3rd quarter. National Bank of Canada FI now owns 37,129 shares of the company's stock valued at $100,000 after purchasing an additional 4,340 shares during the period. XTX Topco Ltd bought a new position in Lithium Americas in the 3rd quarter worth $133,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Lithium Americas in the 3rd quarter worth about $161,000. Finally, Barclays PLC boosted its stake in shares of Lithium Americas by 50.7% during the 3rd quarter. Barclays PLC now owns 115,208 shares of the company's stock valued at $311,000 after purchasing an additional 38,781 shares in the last quarter.

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.