Investors Buy Large Volume of Lithium Americas Call Options (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 63,779 call options on the stock. This represents an increase of 327% compared to the typical daily volume of 14,953 call options.

Lithium Americas Price Performance

Shares of LAC stock opened at $7.05 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.88 and a quick ratio of 9.88. The company has a market capitalization of $1.70 billion, a P/E ratio of -30.63 and a beta of 1.38. The company’s 50-day simple moving average is $3.31 and its two-hundred day simple moving average is $2.98. Lithium Americas has a one year low of $2.31 and a one year high of $7.55.

Lithium Americas (NYSE:LAC) last issued its earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). As a group, equities analysts anticipate that Lithium Americas will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LAC. TD Securities lowered shares of Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a research report on Thursday, September 25th. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research report on Wednesday, August 20th. Jefferies Financial Group reduced their price objective on shares of Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Cowen lowered shares of Lithium Americas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, Wedbush increased their price objective on shares of Lithium Americas from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.09.

Hedge Funds Weigh In On Lithium Americas

A number of hedge funds have recently added to or reduced their stakes in LAC. Ping Capital Management Inc. bought a new position in Lithium Americas in the 1st quarter worth about $27,000. Members Wealth LLC bought a new position in shares of Lithium Americas during the first quarter valued at approximately $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Lithium Americas during the first quarter valued at approximately $27,000. Harbour Investments Inc. boosted its stake in shares of Lithium Americas by 86.1% during the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock valued at $27,000 after purchasing an additional 4,580 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Lithium Americas during the second quarter valued at approximately $28,000.

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.