Lithium Americas (NYSE:LAC) Trading Down 4.4% – Should You Sell?

Lithium Americas Corp. (NYSE:LAC) was down 4.4% during trading on Thursday . The company traded as low as $3.90 and last traded at $3.93. Approximately 4,211,943 shares were traded during trading, a decline of 18% from the average daily volume of 5,130,632 shares. The stock had previously closed at $4.11.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LAC shares. Scotiabank reduced their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Friday, October 18th. B. Riley reduced their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. 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. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler began coverage on shares of Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price target on the stock. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.50.

Lithium Americas Price Performance

The stock’s fifty day moving average is $2.81 and its two-hundred day moving average is $3.15.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Analysts expect that Lithium Americas Corp. will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas

Several large investors have recently bought and sold shares of LAC. Marshall Wace LLP acquired a new position in Lithium Americas during the 2nd quarter valued at about $10,252,000. Van ECK Associates Corp increased its stake in Lithium Americas by 69.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock valued at $10,591,000 after buying an additional 1,625,149 shares during the period. Point72 Asset Management L.P. increased its stake in Lithium Americas by 580.1% during the 2nd 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. Teamwork Financial Advisors LLC increased its stake in Lithium Americas by 2,274.3% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after buying an additional 381,965 shares during the period. Finally, Merewether Investment Management LP acquired a new position in Lithium Americas during the 2nd quarter valued at about $858,000.

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.