Verition Fund Management LLC reduced its stake in shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) by 48.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,375 shares of the company's stock after selling 5,970 shares during the quarter. Verition Fund Management LLC's holdings in Lithium Americas were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Lithium Americas by 5,307.4% in the 1st quarter. Vanguard Group Inc. now owns 3,047,023 shares of the company's stock valued at $117,280,000 after acquiring an additional 2,990,674 shares in the last quarter. Trustees of Princeton University acquired a new position in Lithium Americas in the 1st quarter valued at $92,276,000. FIFTHDELTA Ltd grew its holdings in shares of Lithium Americas by 256.2% during the 1st quarter. FIFTHDELTA Ltd now owns 2,514,927 shares of the company's stock worth $96,800,000 after purchasing an additional 1,808,839 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Lithium Americas in the fourth quarter valued at about $11,503,000. Finally, Van ECK Associates Corp raised its position in Lithium Americas by 24.8% in the first quarter. Van ECK Associates Corp now owns 1,705,779 shares of the company's stock valued at $65,656,000 after purchasing an additional 338,580 shares during the last quarter. 23.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LAC. Deutsche Bank Aktiengesellschaft reduced their price objective on Lithium Americas from $36.00 to $33.00 in a research note on Wednesday, July 6th. Piper Sandler restated an "overweight" rating and set a $38.00 target price on shares of Lithium Americas in a research report on Tuesday, September 20th. Finally, Canaccord Genuity Group lowered their target price on Lithium Americas from C$50.00 to C$49.00 and set a "buy" rating for the company in a research note on Friday, July 22nd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.91.

Lithium Americas Price Performance

Lithium Americas (NYSE:LAC – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.02. As a group, analysts forecast that Lithium Americas Corp. will post -0.47 EPS for the current fiscal year.

Lithium Americas Company Profile

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Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.

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