Commonwealth Equity Services LLC lifted its position in Lithium Americas Corp. (NYSE:LAC – Get Rating) by 9.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 457,061 shares of the company's stock after purchasing an additional 39,950 shares during the quarter. Commonwealth Equity Services LLC owned 0.34% of Lithium Americas worth $9,200,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LAC. Cetera Investment Advisers boosted its holdings in shares of Lithium Americas by 10.1% in the 4th quarter. Cetera Investment Advisers now owns 60,585 shares of the company's stock worth $1,766,000 after purchasing an additional 5,535 shares in the last quarter. C2C Wealth Management LLC purchased a new stake in Lithium Americas during the 4th quarter valued at about $1,121,000. Winfield Associates Inc. purchased a new stake in Lithium Americas during the 1st quarter valued at about $367,000. DNB Asset Management AS purchased a new stake in Lithium Americas during the 1st quarter valued at about $1,388,000. Finally, Harbour Capital Advisors LLC purchased a new stake in Lithium Americas during the 1st quarter valued at about $294,000. 23.73% of the stock is currently owned by hedge funds and other institutional investors.
Get Lithium Americas alerts:Analysts Set New Price Targets
Several brokerages recently weighed in on LAC. Deutsche Bank Aktiengesellschaft increased their target price on Lithium Americas from $33.00 to $36.00 in a report on Tuesday. Canaccord Genuity Group dropped their target price on Lithium Americas from C$50.00 to C$49.00 and set a "buy" rating for the company in a report on Friday, July 22nd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $38.00 price target on shares of Lithium Americas in a research report on Tuesday, September 20th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Lithium Americas presently has an average rating of "Moderate Buy" and a consensus target price of $41.18.
Lithium Americas Stock Up 5.4 %
Shares of NYSE:LAC opened at $28.52 on Wednesday. Lithium Americas Corp. has a 52-week low of $18.89 and a 52-week high of $41.56. The firm has a market capitalization of $3.84 billion, a P/E ratio of -52.81 and a beta of 1.50. The stock has a 50 day moving average price of $28.43 and a 200-day moving average price of $26.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 44.14 and a current ratio of 44.14.Lithium Americas (NYSE:LAC – Get Rating) last announced its earnings results on Thursday, July 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. As a group, equities research analysts anticipate 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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