Koss Olinger Consulting LLC Grows Position in Lithium Americas Corp. (NYSE:LAC)

Key Points

• Koss Olinger Consulting LLC increased its stake in Lithium Americas Corp. by 67.1%, acquiring an additional 124,970 shares, bringing its total ownership to 311,209 shares worth $843,000.
• Lithium Americas stock price rose by 2.2%, with the current trading price at $2.79, as the company has experienced fluctuations with a twelve-month low of $2.11 and a high of $5.20.
• Analysts have mixed ratings for Lithium Americas, with a consensus rating of "Hold" and a price target of $3.88, while some firms have recently downgraded their ratings on the stock.

Koss Olinger Consulting LLC boosted its holdings in Lithium Americas Corp. (NYSE:LAC - Free Report) by 67.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 311,209 shares of the company's stock after purchasing an additional 124,970 shares during the quarter. Koss Olinger Consulting LLC owned about 0.14% of Lithium Americas worth $843,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LAC. Cacti Asset Management LLC acquired a new stake in Lithium Americas in the first quarter valued at approximately $27,000. Members Wealth LLC purchased a new position in shares of Lithium Americas during the first quarter valued at approximately $27,000. Ping Capital Management Inc. bought a new stake in Lithium Americas during the first quarter worth $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Lithium Americas during the first quarter worth $27,000. Finally, Mariner LLC bought a new stake in Lithium Americas during the fourth quarter worth $31,000.

Analysts Set New Price Targets

A number of analysts recently commented on LAC shares. National Bank Financial lowered Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Wedbush reiterated a "neutral" rating and set a $5.00 price objective on shares of Lithium Americas in a research note on Friday, May 16th. Evercore ISI initiated coverage on Lithium Americas in a research note on Thursday, April 17th. They issued an "outperform" rating and a $4.50 target price on the stock. Finally, National Bankshares lowered Lithium Americas from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $3.88.

Lithium Americas Trading Down 3.1%

LAC stock traded down $0.09 during midday trading on Thursday, hitting $2.86. The company had a trading volume of 10,554,453 shares, compared to its average volume of 10,892,222. 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 Corp. has a 52 week low of $2.11 and a 52 week high of $5.20. The stock's 50 day moving average price is $2.79 and its 200 day moving average price is $2.83. The stock has a market cap of $625.84 million, a price-to-earnings ratio of -17.87 and a beta of 0.68.

Lithium Americas (NYSE:LAC - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). As a group, equities research analysts expect that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal 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.