HITE Hedge Asset Management LLC Has $2.01 Million Stock Holdings in Lithium Americas Corp. $LAC

Key Points

• HITE Hedge Asset Management reduced its stake in Lithium Americas by 52.1% in Q3, selling 383,588 shares and now holding 352,330 shares valued at about $2.01 million (≈0.14% of the company).
• Lithium Americas (NYSE:LAC) has a market cap of $1.38B and a 12‑month range of $2.31–$10.52; Wall Street's consensus is a "Hold" with a $5.81 target amid several recent analyst upgrades and a Jefferies buy reaffirmation.

HITE Hedge Asset Management LLC decreased its holdings in Lithium Americas Corp. (NYSE:LAC - Free Report) by 52.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 352,330 shares of the company's stock after selling 383,588 shares during the period. HITE Hedge Asset Management LLC owned approximately 0.14% of Lithium Americas worth $2,012,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Walleye Capital LLC bought a new stake in shares of Lithium Americas during the 2nd quarter worth $28,000. IHT Wealth Management LLC acquired a new stake in Lithium Americas in the second quarter valued at about $28,000. J.W. Cole Advisors Inc. bought a new position in Lithium Americas in the second quarter valued at about $39,000. Diversify Advisory Services LLC acquired a new position in Lithium Americas during the second quarter worth about $51,000. Finally, Masso Torrence Wealth Management Inc. acquired a new position in Lithium Americas during the third quarter worth about $57,000.

Lithium Americas Stock Performance

NYSE LAC opened at $4.56 on Friday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -4.34 and a beta of 1.49. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84. Lithium Americas Corp. has a twelve month low of $2.31 and a twelve month high of $10.52. The stock has a fifty day simple moving average of $5.15 and a 200 day simple moving average of $5.13.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LAC shares. TD Securities raised shares of Lithium Americas to a "hold" rating in a report on Monday, February 9th. Cormark upgraded shares of Lithium Americas from a "hold" rating to a "moderate buy" rating in a research report on Friday, November 21st. Scotiabank increased their price objective on shares of Lithium Americas from $5.00 to $7.00 and gave the company a "sector perform" rating in a research note on Monday, January 12th. Canaccord Genuity Group upgraded shares of Lithium Americas from a "sell" rating to a "hold" rating in a research report on Wednesday, November 19th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Lithium Americas in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $5.81.

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.

Want to see what other hedge funds are holding LAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lithium Americas Corp. (NYSE:LAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.