Lithium Americas Corp. $LAC Shares Sold by Teamwork Financial Advisors LLC

Key Points

• Teamwork Financial Advisors cut its Lithium Americas stake by 91.1% in the third quarter, selling 813,464 shares and retaining 79,931 shares valued at approximately $210,000.
• Institutional sentiment was mixed: several investors increased or initiated positions, while analysts’ views ranged from buy to sell. The consensus rating is “Hold”, with an average price target of $5.25.
• LAC shares traded near $2.15, close to their 12-month low of $2.04 and below both their 50-day and 200-day moving averages. Lithium Americas is advancing the Thacker Pass lithium project in Nevada, focused on producing battery-grade lithium carbonate.

Teamwork Financial Advisors LLC trimmed its position in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 91.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,931 shares of the company's stock after selling 813,464 shares during the period. Teamwork Financial Advisors LLC's holdings in Lithium Americas were worth $210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Lithium Americas by 229.9% in the first quarter. Dimensional Fund Advisors LP now owns 565,135 shares of the company's stock worth $2,231,000 after purchasing an additional 393,842 shares during the period. Revisor Wealth Management LLC lifted its position in shares of Lithium Americas by 7.4% during the 1st quarter. Revisor Wealth Management LLC now owns 393,552 shares of the company's stock worth $1,555,000 after purchasing an additional 27,134 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Lithium Americas by 11.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 343,290 shares of the company's stock worth $1,363,000 after purchasing an additional 35,131 shares during the last quarter. Credit Industriel ET Commercial bought a new stake in Lithium Americas during the 1st quarter valued at approximately $908,000. Finally, Engineers Gate Manager LP bought a new stake in Lithium Americas during the 2nd quarter valued at approximately $838,000.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LAC shares. JPMorgan Chase & Co. started coverage on Lithium Americas in a report on Wednesday, September 9th. They issued an "overweight" rating and a $6.00 target price on the stock. Canaccord Genuity Group upgraded Lithium Americas from a "hold" rating to a "speculative buy" rating in a report on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Lithium Americas in a research report on Friday, July 24th. Wall Street Zen raised Lithium Americas from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. Finally, BMO Capital Markets set a $3.50 price target on shares of Lithium Americas in a report on Tuesday, October 6th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.25.

Lithium Americas Stock Performance

Shares of LAC traded down $0.03 on Monday, reaching $2.15. 6,020,684 shares of the stock traded hands, compared to its average volume of 10,919,325. The stock's 50-day moving average price is $2.85 and its 200-day moving average price is $3.75. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.47 and a quick ratio of 5.47. The firm has a market cap of $782.35 million, a price-to-earnings ratio of -5.82 and a beta of 2.64. Lithium Americas Corp. has a 12 month low of $2.04 and a 12 month high of $7.25.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Equities analysts forecast that Lithium Americas Corp. will post -0.07 EPS for the current fiscal year.

Lithium Americas Profile

Lithium Americas Corp. is a lithium development company focused on advancing domestic battery-materials production in North America. Its principal asset is the Thacker Pass lithium project in Humboldt County, Nevada, one of the largest known lithium deposits in the United States. The project is designed to produce battery-grade lithium carbonate for use in electric vehicle batteries and other energy-storage applications.

Thacker Pass is being developed in phases and is expected to use a processing method intended to recover lithium from sedimentary claystone.

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