Alps Advisors Inc. Boosts Stock Position in Lithium Americas Corp. (NYSE:LAC)

Alps Advisors Inc. grew its position in Lithium Americas Corp. (NYSE:LAC - Free Report) by 94.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,782 shares of the company's stock after acquiring an additional 134,735 shares during the quarter. Alps Advisors Inc. owned about 0.13% of Lithium Americas worth $753,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cacti Asset Management LLC acquired a new stake in shares of Lithium Americas in the first quarter valued at approximately $27,000. Members Wealth LLC acquired a new stake in shares of Lithium Americas during the first quarter worth $27,000. Mariner LLC acquired a new stake in shares of Lithium Americas during the fourth quarter worth $31,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Lithium Americas during the fourth quarter worth $34,000. Finally, Hartmann Taylor Wealth Management LLC acquired a new stake in shares of Lithium Americas during the first quarter worth $33,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LAC. Evercore ISI began coverage on Lithium Americas in a report on Thursday, April 17th. They set an "outperform" rating and a $4.50 price target for the company. Wedbush reaffirmed a "neutral" rating and set a $5.00 price target on shares of Lithium Americas in a report on Friday, May 16th. National Bankshares downgraded Lithium Americas from an "outperform" rating to a "sector perform" rating in a report on Friday, May 16th. National Bank Financial downgraded Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Finally, Scotiabank decreased their price target on Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating for the company in a report on Monday, March 31st. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $3.88.

Lithium Americas Price Performance

Shares of LAC stock traded down $0.14 during mid-day trading on Friday, reaching $3.19. The stock had a trading volume of 11,988,473 shares, compared to its average volume of 5,714,454. Lithium Americas Corp. has a 12-month low of $2.02 and a 12-month high of $5.20. The company has a market cap of $698.07 million, a P/E ratio of -19.90 and a beta of 0.69. The business has a 50-day simple moving average of $2.78 and a 200 day simple moving average of $2.88. The company has a current ratio of 10.35, a quick ratio of 10.35 and a debt-to-equity ratio of 0.02.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). On average, sell-side analysts anticipate that Lithium Americas Corp. will post -0.12 earnings per share for the current year.

About Lithium Americas

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.