Lithium Americas (NYSE:LAC) Shares Up 5.5%

Lithium Americas Corp (NYSE:LAC)’s share price shot up 5.5% during trading on Friday . The stock traded as high as $4.05 and last traded at $4.05. 232,448 shares were traded during mid-day trading, an increase of 19% from the average session volume of 195,608 shares. The stock had previously closed at $3.84.

Several research firms have commented on LAC. National Bank Financial reiterated a “buy” rating on shares of Lithium Americas in a research report on Tuesday, April 2nd. Zacks Investment Research downgraded Lithium Americas from a “buy” rating to a “hold” rating in a research report on Friday, April 5th.

The company has a quick ratio of 9.93, a current ratio of 10.38 and a debt-to-equity ratio of 0.70. The stock’s 50-day moving average price is $3.85.

Lithium Americas (NYSE:LAC) last posted its earnings results on Wednesday, May 15th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $1.28 million during the quarter, compared to the consensus estimate of $1.80 million. Lithium Americas had a negative return on equity of 26.10% and a negative net margin of 560.33%. As a group, equities analysts expect that Lithium Americas Corp will post -0.31 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of LAC. Mirae Asset Global Investments Co. Ltd. bought a new position in Lithium Americas in the fourth quarter valued at about $2,519,000. Virtu Financial LLC bought a new position in shares of Lithium Americas during the first quarter worth about $224,000. Millennium Management LLC raised its position in shares of Lithium Americas by 37.8% during the fourth quarter. Millennium Management LLC now owns 19,605 shares of the company’s stock worth $62,000 after acquiring an additional 5,379 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Lithium Americas by 87.3% during the first quarter. Toronto Dominion Bank now owns 9,547 shares of the company’s stock worth $35,000 after acquiring an additional 4,451 shares during the last quarter. Hedge funds and other institutional investors own 5.47% of the company’s stock.

About Lithium Americas (NYSE:LAC)

Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It primarily holds interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and owns a 100% interest in the Thacker Pass lithium project located in Nevada. The company also manufactures and sells organoclay products that are used in complex oil and gas drilling and other applications.

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