Invesco Ltd. Decreases Stock Holdings 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. cut its holdings in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,207,309 shares of the company's stock after selling 319,598 shares during the period. Invesco Ltd. owned approximately 0.55% of Lithium Americas worth $3,272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cacti Asset Management LLC bought a new stake in shares of Lithium Americas during the first quarter worth about $27,000. Members Wealth LLC bought a new stake in shares of Lithium Americas during the first quarter worth about $27,000. Ping Capital Management Inc. bought a new stake in shares of Lithium Americas during the first quarter worth about $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Lithium Americas during the first quarter worth about $27,000. Finally, Mariner LLC bought a new stake in Lithium Americas in the 4th quarter worth about $31,000.

Analyst Upgrades and Downgrades

LAC has been the subject of a number of recent analyst reports. National Bank Financial downgraded shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. National Bankshares downgraded shares of Lithium Americas from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 16th. Wedbush reissued a "neutral" rating and set a $5.00 target price on shares of Lithium Americas in a research report on Friday, May 16th. Finally, Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.15.

Lithium Americas Stock Up 0.8%

Lithium Americas stock traded up $0.03 during mid-day trading on Monday, hitting $3.00. The company's stock had a trading volume of 5,447,578 shares, compared to its average volume of 7,507,591. The business has a 50 day moving average price of $2.84 and a 200-day moving average price of $2.82. Lithium Americas Corp. has a 12 month low of $2.11 and a 12 month 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 analysts' consensus estimates of ($0.04) by ($0.02). Research analysts anticipate that Lithium Americas Corp. will post -0.12 earnings per share for the current year.

Lithium Americas Company 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.