Lithium Americas Corp. [NYSE: LAC] gained 12.06% or 1.73 points to close at $16.07 with a heavy trading volume of 5162950 shares. The company report on March 13, 2021 that S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index.
As a result of the quarterly review, S&P Dow Jones Indices will make the following changes to the S&P/TSX Composite Index prior to the open of trading on Monday, March 22, 2021:.
S&P/TSX COMPOSITE INDEX – March 22, 2021.
It opened the trading session at $15.15, the shares rose to $16.265 and dropped to $14.88, the range by which the price of stock traded the whole day. The daily chart for LAC points out that the company has recorded 51.46% gains over the past six months. However, it is still -572.38% lower than its most recent low trading price.
If we look at the average trading volume of 6.66M shares, LAC reached to a volume of 5162950 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Lithium Americas Corp. [LAC]:
B. Riley Securities have made an estimate for Lithium Americas Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 31, 2021. While these analysts kept the previous recommendation, Cowen raised their target price to Market Perform. The new note on the price target was released on March 10, 2021, representing the official price target for Lithium Americas Corp. stock. Previously, the target price had yet another raise to $13.25, while Stifel analysts kept a Buy rating on LAC stock. On October 21, 2020, analysts decreased their price target for LAC shares from 15 to 13.50.
The Average True Range (ATR) for Lithium Americas Corp. is set at 1.42 The Price to Book ratio for the last quarter was 8.52.
Trading performance analysis for LAC stock
Lithium Americas Corp. [LAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.73. With this latest performance, LAC shares dropped by -14.97% in over the last four-week period, additionally plugging by 51.46% over the last 6 months – not to mention a rise of 504.14% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LAC stock in for the last two-week period is set at 48.55, with the RSI for the last a single of trading hit 52.81, and the three-weeks RSI is set at 47.84 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 18.60, while it was recorded at 14.68 for the last single week of trading, and 11.83 for the last 200 days.
Lithium Americas Corp. [LAC]: A deeper dive into fundamental analysis
Return on Total Capital for LAC is now -12.08, given the latest momentum, and Return on Invested Capital for the company is -13.27. Return on Equity for this stock declined to -21.00, with Return on Assets sitting at -11.85. When it comes to the capital structure of this company, Lithium Americas Corp. [LAC] has a Total Debt to Total Equity ratio set at 63.57. Additionally, LAC Total Debt to Total Capital is recorded at 38.86, with Total Debt to Total Assets ending up at 37.10. Long-Term Debt to Equity for the company is recorded at 63.57, with the Long-Term Debt to Total Capital now at 38.86.
Reflecting on the efficiency of the workforce at the company, Lithium Americas Corp. [LAC] managed to generate an average of -$1,181,049 per employee.
An analysis of insider ownership at Lithium Americas Corp. [LAC]
There are presently around $265 million, or 16.89% of LAC stock, in the hands of institutional investors. The top three institutional holders of LAC stocks are: INVESCO LTD. with ownership of 3,768,838, which is approximately 51.464% of the company’s market cap and around 30.25% of the total institutional ownership; VAN ECK ASSOCIATES CORP, holding 1,255,823 shares of the stock with an approximate value of $20.18 million in LAC stocks shares; and VOLORIDGE INVESTMENT MANAGEMENT, LLC, currently with $13.82 million in LAC stock with ownership of nearly 238.812% of the company’s market capitalization.
Positions in Lithium Americas Corp. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 83 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 9,362,419 shares. Additionally, 17 investors decreased positions by around 344,752 shares, while 14 investors held positions by with 6,790,114 shares. The mentioned changes placed institutional holdings at 16,497,285 shares, according to the latest SEC report filing. LAC stock had 41 new institutional investments in for a total of 3,500,940 shares, while 9 institutional investors sold positions of 193,027 shares during the same period.