MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Stock Holdings in Lithium Americas Corp. $LAC

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Lithium Americas Corp. by 16.8%, selling 545,385 shares, leaving them with approximately 1.24% ownership of the company.
• Several other institutional investors, including Decade Renewable Partners LP and Koss Olinger Consulting LLC, have increased their holdings in Lithium Americas during the first quarter.
• The stock currently has a consensus rating of "Hold" and a price target of $4.15, with recent earnings missing expectations at ($0.06) EPS.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 16.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,709,463 shares of the company's stock after selling 545,385 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.24% of Lithium Americas worth $7,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Decade Renewable Partners LP increased its holdings in shares of Lithium Americas by 51.7% during the 1st quarter. Decade Renewable Partners LP now owns 680,100 shares of the company's stock worth $1,843,000 after buying an additional 231,900 shares during the last quarter. HITE Hedge Asset Management LLC increased its holdings in shares of Lithium Americas by 0.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company's stock worth $1,994,000 after buying an additional 4,445 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Lithium Americas during the 1st quarter worth approximately $277,000. Nuveen LLC acquired a new stake in shares of Lithium Americas during the 1st quarter worth approximately $504,000. Finally, Koss Olinger Consulting LLC increased its holdings in shares of Lithium Americas by 67.1% during the 1st quarter. Koss Olinger Consulting LLC now owns 311,209 shares of the company's stock worth $843,000 after buying an additional 124,970 shares during the last quarter.

Analysts Set New Price Targets

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

Lithium Americas Stock Performance

NYSE:LAC opened at $2.81 on Thursday. The company has a fifty day simple moving average of $2.86 and a two-hundred day simple moving average of $2.82. The company has a market cap of $677.86 million, a price-to-earnings ratio of -12.20 and a beta of 0.70. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.33. Lithium Americas Corp. has a 52 week low of $2.28 and a 52 week high of $5.20.

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

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.

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