Kailix Advisors LLC Makes New $5.12 Million Investment in Lithium Americas Corp. $LAC

Key Points

• Kailix Advisors LLC opened a new position in Lithium Americas during the fourth quarter, buying 1.175 million shares worth about $5.12 million. The stake represented 5.7% of Kailix’s portfolio and 0.39% of Lithium Americas.
• Other institutional investors also adjusted their positions, including Goldman Sachs, Invesco, and Creative Planning, signaling continued hedge fund and institutional interest in the stock.
• Lithium Americas’ shares were up slightly, but the company recently reported a wider-than-expected loss of ($0.37) per share versus estimates of ($0.04). Analysts currently rate the stock a Hold on average, with a consensus price target of $5.71.

Kailix Advisors LLC bought a new position in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,175,000 shares of the company's stock, valued at approximately $5,123,000. Lithium Americas accounts for 5.7% of Kailix Advisors LLC's portfolio, making the stock its 9th largest holding. Kailix Advisors LLC owned 0.39% of Lithium Americas at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Lithium Americas by 44.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company's stock worth $2,836,000 after buying an additional 324,518 shares in the last quarter. Creative Planning lifted its holdings in shares of Lithium Americas by 18.4% in the second quarter. Creative Planning now owns 48,936 shares of the company's stock worth $131,000 after buying an additional 7,610 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Lithium Americas by 38.0% in the second quarter. Invesco Ltd. now owns 1,666,561 shares of the company's stock worth $4,466,000 after buying an additional 459,252 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Lithium Americas in the second quarter worth $28,000. Finally, Marshall Wace LLP purchased a new position in shares of Lithium Americas in the second quarter worth $105,000.

Lithium Americas Trading Up 0.3%

LAC stock opened at $5.59 on Monday. The firm has a fifty day moving average price of $4.56 and a 200 day moving average price of $4.97. Lithium Americas Corp. has a fifty-two week low of $2.47 and a fifty-two week high of $10.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.16 and a current ratio of 5.16. The firm has a market cap of $1.94 billion, a PE ratio of -12.14 and a beta of 2.50.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its quarterly earnings data on Thursday, March 19th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.33). Sell-side analysts anticipate that Lithium Americas Corp. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LAC shares. Wedbush started coverage on shares of Lithium Americas in a report on Monday, April 20th. They issued a "neutral" rating and a $8.00 target price on the stock. Jefferies Financial Group reissued a "buy" rating on shares of Lithium Americas in a report on Monday, February 23rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Lithium Americas in a report on Monday, April 27th. Scotiabank cut their target price on shares of Lithium Americas from $7.00 to $5.00 and set a "sector perform" rating for the company in a report on Monday, April 6th. Finally, TD Securities raised shares of Lithium Americas to a "hold" rating in a report on Monday, February 9th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Lithium Americas has an average rating of "Hold" and an average price target of $5.71.

About Lithium Americas

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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