Canton Hathaway LLC raised its stake in shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) by 21.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,545 shares of the company's stock after acquiring an additional 3,500 shares during the quarter. Canton Hathaway LLC's holdings in Lithium Americas were worth $393,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of LAC. Vanguard Group Inc. lifted its position in shares of Lithium Americas by 5,307.4% in the first 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 lifted its holdings in Lithium Americas by 256.2% in the 1st quarter. FIFTHDELTA Ltd now owns 2,514,927 shares of the company's stock valued at $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 during the 4th quarter worth $11,503,000. Finally, Van ECK Associates Corp grew its holdings in shares of Lithium Americas by 24.8% during the first quarter. Van ECK Associates Corp now owns 1,705,779 shares of the company's stock worth $65,656,000 after buying an additional 338,580 shares in the last quarter. Institutional investors and hedge funds own 23.73% of the company's stock.
Get Lithium Americas alerts:Lithium Americas Price Performance
LAC opened at $26.48 on Friday. The business's 50 day moving average price is $28.17 and its 200 day moving average price is $26.58. The company has a current ratio of 44.14, a quick ratio of 44.14 and a debt-to-equity ratio of 0.26. Lithium Americas Corp. has a one year low of $18.89 and a one year high of $41.56.
Lithium Americas (NYSE:LAC – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. On average, research analysts forecast that Lithium Americas Corp. will post -0.47 earnings per share for the current fiscal year.Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lithium Americas from $36.00 to $33.00 in a research note on Wednesday, July 6th. Piper Sandler reissued an "overweight" rating and issued a $38.00 target price on shares of Lithium Americas in a research note on Tuesday, September 20th. Finally, Canaccord Genuity Group dropped their price target on Lithium Americas from C$50.00 to C$49.00 and set a "buy" rating for the company in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.91.
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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