Nuveen LLC Takes Position in Lithium Americas Corp. $LAC

Key Points

• Nuveen LLC has acquired approximately 186,420 shares of Lithium Americas Corp., valued at around $504,000, reflecting a new position for the firm as of the latest SEC filing.
• Various hedge funds have also initiated positions in Lithium Americas, with multiple firms investing around $27,000 in the first quarter of the year.
• Current analysts' consensus ratings for Lithium Americas include two "Buy" ratings and six "Hold" ratings, with a target price set at $4.15.

Nuveen LLC purchased a new stake in Lithium Americas Corp. (NYSE:LAC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 186,420 shares of the company's stock, valued at approximately $504,000. Nuveen LLC owned 0.09% of Lithium Americas as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Lithium Americas in the 4th quarter worth $130,000. Ameriprise Financial Inc. raised its holdings in shares of Lithium Americas by 4.4% in the fourth quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company's stock valued at $309,000 after acquiring an additional 4,379 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Lithium Americas in the first quarter worth about $37,000. Alps Advisors Inc. grew its holdings in Lithium Americas by 94.2% during the 1st quarter. Alps Advisors Inc. now owns 277,782 shares of the company's stock worth $753,000 after acquiring an additional 134,735 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Lithium Americas by 28.1% in the 4th quarter. Barclays PLC now owns 147,633 shares of the company's stock valued at $438,000 after purchasing an additional 32,425 shares in the last quarter.

Lithium Americas Stock Down 1.2%

Shares of LAC traded down $0.04 during mid-day trading on Wednesday, hitting $2.81. 4,636,772 shares of the company traded hands, compared to its average volume of 6,098,023. The business has a 50 day moving average of $2.86 and a 200 day moving average of $2.82. The company has a market capitalization of $677.86 million, a PE 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 1-year low of $2.28 and a 1-year 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) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). Equities research analysts anticipate that Lithium Americas Corp. will post -0.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LAC. Wedbush reissued a "neutral" rating and issued a $5.00 price objective on shares of Lithium Americas in a research note 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 raised Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. Finally, National Bank Financial lowered Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Lithium Americas presently has a consensus rating of "Hold" and an average target price of $4.15.

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.