Cambridge Investment Research Advisors Inc. lowered its position in Lithium Americas Corp. (NYSE:LAC) by 40.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,610 shares of the company’s stock after selling 35,894 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Lithium Americas were worth $1,175,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Lithium Americas by 6.8% in the third quarter. Signaturefd LLC now owns 7,642 shares of the company’s stock valued at $171,000 after acquiring an additional 487 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Lithium Americas by 4.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 21,925 shares of the company’s stock valued at $325,000 after acquiring an additional 1,025 shares during the period. LPL Financial LLC raised its stake in shares of Lithium Americas by 5.1% in the second quarter. LPL Financial LLC now owns 26,099 shares of the company’s stock valued at $387,000 after acquiring an additional 1,265 shares during the period. Spire Wealth Management raised its stake in shares of Lithium Americas by 38.5% in the third quarter. Spire Wealth Management now owns 4,789 shares of the company’s stock valued at $107,000 after acquiring an additional 1,330 shares during the period. Finally, Northern Oak Wealth Management Inc. raised its stake in shares of Lithium Americas by 335.7% in the second quarter. Northern Oak Wealth Management Inc. now owns 2,135 shares of the company’s stock valued at $32,000 after acquiring an additional 1,645 shares during the period. 13.23% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on LAC shares. National Bank Financial raised their price target on shares of Lithium Americas from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, November 18th. B. Riley raised their price target on shares of Lithium Americas from $25.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, November 24th. Industrial Alliance Securities reaffirmed a “buy” rating on shares of Lithium Americas in a research note on Thursday, October 21st. National Bankshares raised their price target on shares of Lithium Americas from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, November 18th. Finally, raised their price target on shares of Lithium Americas from C$35.00 to C$46.00 and gave the stock a “buy” rating in a research note on Thursday, November 18th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $35.00.
Shares of Lithium Americas stock opened at $31.05 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 57.43 and a quick ratio of 57.43. Lithium Americas Corp. has a 1 year low of $11.84 and a 1 year high of $41.56. The firm’s 50-day moving average is $32.38 and its two-hundred day moving average is $23.43. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -63.37 and a beta of 1.19.
Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Monday, November 15th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). On average, equities analysts expect that Lithium Americas Corp. will post -0.5 earnings per share for the current year.
About Lithium Americas
Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.
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