Lithium Americas Sees Unusually High Options Volume (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) was the target of unusually large options trading activity on Thursday. Traders purchased 8,130 call options on the company. This is an increase of approximately 237% compared to the typical volume of 2,413 call options.

Analyst Ratings Changes

A number of research analysts have issued reports on LAC shares. Scotiabank decreased their price target on shares of Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating for the company in a report on Monday, March 31st. Evercore ISI began coverage on shares of Lithium Americas in a research note on Thursday, April 17th. They issued an “outperform” rating and a $4.50 price objective on the stock. Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of Lithium Americas in a research note on Friday, May 16th. National Bankshares lowered shares of Lithium Americas from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 16th. Finally, National Bank Financial lowered shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 16th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Lithium Americas presently has an average rating of “Hold” and an average price target of $3.88.

Institutional Investors Weigh In On Lithium Americas

Institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp grew its position in shares of Lithium Americas by 29.5% during the 4th quarter. Jones Financial Companies Lllp now owns 87,350 shares of the company’s stock valued at $259,000 after acquiring an additional 19,908 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Lithium Americas during the 4th quarter valued at about $130,000. Ameriprise Financial Inc. grew its position in shares of Lithium Americas by 4.4% in the fourth quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company’s stock valued at $309,000 after purchasing an additional 4,379 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Lithium Americas in the first quarter valued at about $37,000. Finally, Prosperity Wealth Management Inc. acquired a new stake in shares of Lithium Americas in the fourth quarter valued at about $323,000.

Lithium Americas Trading Up 7.2%

Shares of Lithium Americas stock opened at $2.84 on Friday. The firm has a 50-day simple moving average of $2.78 and a two-hundred day simple moving average of $2.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.35 and a current ratio of 10.35. Lithium Americas has a fifty-two week low of $2.02 and a fifty-two week high of $5.20. The company has a market cap of $621.68 million, a P/E ratio of -17.75 and a beta of 0.69.

Lithium Americas (NYSE:LAC) last posted its earnings results on Thursday, May 15th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). As a group, equities analysts predict that Lithium Americas will post -0.12 earnings per share for the current fiscal year.

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.