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

Lithium Americas Corp. (NYSE:LAC) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 30,907 call options on the company. This is an increase of 44% compared to the average daily volume of 21,509 call options.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LAC. Steward Partners Investment Advisory LLC increased its position in shares of Lithium Americas by 149.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,930 shares of the company’s stock valued at $26,000 after acquiring an additional 3,550 shares during the period. IFP Advisors Inc raised its position in shares of Lithium Americas by 1,253.3% in the 4th quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock worth $28,000 after acquiring an additional 6,016 shares in the last quarter. Quarry LP purchased a new position in Lithium Americas during the third quarter valued at $28,000. Walleye Capital LLC purchased a new position in Lithium Americas during the 2nd quarter valued at about $28,000. Finally, IHT Wealth Management LLC purchased a new position in shares of Lithium Americas during the second quarter valued at approximately $28,000.

Analyst Ratings Changes

LAC has been the topic of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Canaccord Genuity Group raised Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research note on Wednesday, January 28th. Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Finally, TD Securities raised shares of Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.81.

Lithium Americas Price Performance

Shares of Lithium Americas stock opened at $4.50 on Wednesday. Lithium Americas has a 12 month low of $2.31 and a 12 month high of $10.52. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.84. The business’s 50-day moving average price is $5.11 and its 200-day moving average price is $5.19. The firm has a market capitalization of $1.36 billion, a PE ratio of -4.28 and a beta of 1.48.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.