Dimensional Fund Advisors LP Increases Stock Holdings in Lithium Americas Corp. $LAC

Key Points

• Dimensional Fund Advisors increased its Lithium Americas stake by 229.9% in the first quarter, bringing its holdings to 565,135 shares valued at approximately $2.23 million.
• Several other institutional investors also expanded their positions, including Van ECK Associates, Millennium Management and Legal & General, signaling continued institutional interest in LAC.
• Analyst sentiment remains cautious: Lithium Americas has a consensus “Hold” rating and a $5.44 target price, while shares recently opened at $3.42 and remain well below their 52-week high of $10.52.

Dimensional Fund Advisors LP boosted its holdings in Lithium Americas Corp. (NYSE:LAC - Free Report) by 229.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 565,135 shares of the company's stock after buying an additional 393,842 shares during the period. Dimensional Fund Advisors LP owned 0.16% of Lithium Americas worth $2,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LAC. Van ECK Associates Corp grew its position in Lithium Americas by 20.8% during the fourth quarter. Van ECK Associates Corp now owns 17,495,908 shares of the company's stock valued at $76,282,000 after acquiring an additional 3,016,293 shares during the period. Millennium Management LLC increased its stake in Lithium Americas by 35.8% during the fourth quarter. Millennium Management LLC now owns 4,489,568 shares of the company's stock worth $19,575,000 after acquiring an additional 1,182,465 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Lithium Americas by 212.7% in the 4th quarter. Legal & General Group Plc now owns 3,062,306 shares of the company's stock worth $13,349,000 after purchasing an additional 2,082,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Lithium Americas by 1.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company's stock worth $7,350,000 after purchasing an additional 45,941 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Lithium Americas by 44.3% in the 3rd quarter. Invesco Ltd. now owns 2,405,568 shares of the company's stock worth $13,736,000 after purchasing an additional 739,007 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LAC shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lithium Americas in a report on Friday, July 24th. Scotia cut their price target on shares of Lithium Americas from $5.00 to $4.50 and set a "sector perform" rating on the stock in a report on Monday, May 25th. Wall Street Zen cut shares of Lithium Americas from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Wedbush began coverage on shares of Lithium Americas in a research note on Monday, April 20th. They set a "neutral" rating and a $8.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Lithium Americas in a research note on Wednesday, July 1st. They set a "neutral" rating and a $4.50 price objective for the company. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.44.

Lithium Americas Stock Performance

Shares of LAC opened at $3.42 on Friday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -8.33 and a beta of 2.57. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.65. The business's 50 day moving average is $3.57 and its two-hundred day moving average is $4.35. Lithium Americas Corp. has a 52-week low of $2.66 and a 52-week high of $10.52.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Analysts forecast that Lithium Americas Corp. will post -0.14 EPS for the current fiscal year.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas' two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.

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