Adage Capital Partners GP L.L.C. Sells 400,000 Shares of Lithium Americas Corp. (NYSE:LAC)

Adage Capital Partners GP L.L.C. reduced its stake in Lithium Americas Corp. (NYSE:LAC - Free Report) by 26.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,100,000 shares of the company's stock after selling 400,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.50% of Lithium Americas worth $3,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quinn Opportunity Partners LLC grew its stake in Lithium Americas by 1,132.5% during the fourth quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company's stock valued at $2,411,000 after acquiring an additional 745,777 shares in the last quarter. HITE Hedge Asset Management LLC grew its position in shares of Lithium Americas by 150.9% during the 4th quarter. HITE Hedge Asset Management LLC now owns 731,473 shares of the company's stock valued at $2,172,000 after purchasing an additional 439,974 shares in the last quarter. Teamwork Financial Advisors LLC increased its holdings in shares of Lithium Americas by 79.2% in the fourth quarter. Teamwork Financial Advisors LLC now owns 714,381 shares of the company's stock worth $2,122,000 after purchasing an additional 315,621 shares during the period. Alberta Investment Management Corp purchased a new stake in shares of Lithium Americas in the fourth quarter worth $686,000. Finally, Independent Wealth Network Inc. boosted its stake in Lithium Americas by 133.4% during the fourth quarter. Independent Wealth Network Inc. now owns 216,973 shares of the company's stock valued at $644,000 after buying an additional 123,993 shares during the period.

Lithium Americas Stock Up 0.7 %

Shares of NYSE:LAC traded up $0.02 during trading on Friday, hitting $2.93. The stock had a trading volume of 2,490,481 shares, compared to its average volume of 5,529,571. Lithium Americas Corp. has a 12 month low of $2.02 and a 12 month high of $5.20. The company has a market capitalization of $640.10 million, a PE ratio of -24.42 and a beta of 1.01. The firm's fifty day moving average is $2.79 and its 200 day moving average is $3.20.

Lithium Americas (NYSE:LAC - Get Free Report) last released its earnings results on Friday, March 28th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). Equities research analysts expect that Lithium Americas Corp. will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LAC has been the topic of a number of research analyst reports. Scotiabank decreased their price target on shares of Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating on the stock in a report on Monday, March 31st. Evercore ISI assumed coverage on shares of Lithium Americas in a report on Thursday, April 17th. They set an "outperform" rating and a $4.50 target price on the stock. Piper Sandler decreased their price target on Lithium Americas from $3.90 to $3.50 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. National Bankshares reissued an "outperform" rating on shares of Lithium Americas in a research note on Wednesday, April 2nd. Finally, Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research note on Friday, January 17th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $4.75.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.