Teamwork Financial Advisors LLC Buys 155,068 Shares of Lithium Americas Corp. $LAC

Key Points

• Teamwork Financial Advisors LLC increased its stake in Lithium Americas Corp. by 18.1% in Q2, owning approximately 1,012,822 shares valued at $2.7 million.
• Institutional investors, including MIRAE ASSET GLOBAL and Goldman Sachs, have also significantly increased their holdings in Lithium Americas over recent quarters.
• Lithium Americas reported an EPS of ($0.06) for the last quarter, missing analysts' estimates by $0.02, while the consensus rating for the stock remains a "Hold" with a price target of $4.15.

Teamwork Financial Advisors LLC increased its stake in Lithium Americas Corp. (NYSE:LAC - Free Report) by 18.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,012,822 shares of the company's stock after purchasing an additional 155,068 shares during the quarter. Teamwork Financial Advisors LLC owned approximately 0.46% of Lithium Americas worth $2,714,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Lithium Americas by 8.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,254,848 shares of the company's stock valued at $9,732,000 after purchasing an additional 240,418 shares during the period. Goldman Sachs Group Inc. raised its holdings in Lithium Americas by 44.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company's stock worth $2,836,000 after acquiring an additional 324,518 shares during the period. HITE Hedge Asset Management LLC lifted its position in 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 acquiring an additional 4,445 shares during the last quarter. Decade Renewable Partners LP boosted its holdings in Lithium Americas by 51.7% during the first quarter. Decade Renewable Partners LP now owns 680,100 shares of the company's stock valued at $1,843,000 after acquiring an additional 231,900 shares during the period. Finally, Koss Olinger Consulting LLC grew its position in shares of Lithium Americas by 67.1% in the first quarter. Koss Olinger Consulting LLC now owns 311,209 shares of the company's stock valued at $843,000 after purchasing an additional 124,970 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Cormark raised Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $4.15.

Lithium Americas Price Performance

Shares of LAC stock opened at $2.86 on Friday. The company has a market capitalization of $691.16 million, a P/E ratio of -12.43 and a beta of 0.70. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33. Lithium Americas Corp. has a 12 month low of $2.28 and a 12 month high of $5.20. The stock has a 50 day moving average of $2.87 and a two-hundred day moving average of $2.82.

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