Invesco Ltd. Trims Stake in Lithium Americas Corp. $LAC

Key Points

• Invesco Ltd. has reduced its stake in Lithium Americas Corp. (NYSE:LAC) by 20.9%, now holding approximately 0.55% of the company, worth about $3.27 million after selling 319,598 shares in the 1st quarter.
• Lithium Americas reported an EPS of (0.06), missing analysts' expectations of (0.04), and analysts predict a -0.12 EPS for the current fiscal year.
• The stock has a current market cap of $723.77 million, with a 52-week trading range of $2.11 to $5.20 and a consensus rating of "Hold" from analysts.

Invesco Ltd. lowered its holdings in Lithium Americas Corp. (NYSE:LAC - Free Report) by 20.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,207,309 shares of the company's stock after selling 319,598 shares during the quarter. Invesco Ltd. owned 0.55% of Lithium Americas worth $3,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its position in Lithium Americas by 3.9% in the fourth quarter. Mackenzie Financial Corp now owns 87,701 shares of the company's stock valued at $262,000 after purchasing an additional 3,310 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Lithium Americas by 4.4% in the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company's stock valued at $309,000 after buying an additional 4,379 shares during the period. Toronto Dominion Bank raised its holdings in shares of Lithium Americas by 44.1% in the 4th quarter. Toronto Dominion Bank now owns 27,679 shares of the company's stock valued at $82,000 after buying an additional 8,466 shares during the period. CoreCap Advisors LLC raised its holdings in shares of Lithium Americas by 134.7% in the 4th quarter. CoreCap Advisors LLC now owns 15,288 shares of the company's stock valued at $45,000 after buying an additional 8,773 shares during the period. Finally, Cacti Asset Management LLC purchased a new stake in shares of Lithium Americas in the 1st quarter valued at $27,000.

Lithium Americas Stock Down 2.3%

Shares of NYSE:LAC traded down $0.07 on Thursday, hitting $2.80. 4,669,198 shares of the company's stock were exchanged, compared to its average volume of 7,096,961. The firm's 50-day moving average is $2.85 and its 200 day moving average is $2.82. The company has a market capitalization of $675.44 million, a PE ratio of -12.15 and a beta of 0.70. Lithium Americas Corp. has a 1-year low of $2.11 and a 1-year high of $5.20. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88.

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 (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Sell-side analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on LAC. National Bank Financial downgraded Lithium Americas from a "strong-buy" rating to a "hold" rating 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. Cormark upgraded Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. Finally, Wedbush reiterated a "neutral" rating and issued a $5.00 price objective on shares of Lithium Americas in a report on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $4.15.

Lithium Americas Profile

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.