Van ECK Associates Corp Buys 8,868,971 Shares of Lithium Americas Corp. $LAC

Key Points

• VanECK Associates boosted its stake in Lithium Americas by 158.1%, buying an additional 8,868,971 shares to hold 14,479,615 shares (about 5.86% of the company) valued at roughly $82.68 million at quarter end.
• Analysts have an average rating of Hold with a consensus price target of $5.81; LAC was trading around $4.68, has a $1.42 billion market cap and a 52-week range of $2.31–$10.52.

Van ECK Associates Corp increased its stake in Lithium Americas Corp. (NYSE:LAC - Free Report) by 158.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,479,615 shares of the company's stock after purchasing an additional 8,868,971 shares during the quarter. Van ECK Associates Corp owned 5.86% of Lithium Americas worth $82,679,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Teamwork Financial Advisors LLC boosted its position in Lithium Americas by 26.6% in the third quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company's stock worth $7,319,000 after purchasing an additional 268,918 shares during the last quarter. Old West Investment Management LLC bought a new position in shares of Lithium Americas in the 3rd quarter worth approximately $7,647,000. Bank of Montreal Can lifted its stake in shares of Lithium Americas by 3,173.0% in the 2nd quarter. Bank of Montreal Can now owns 846,998 shares of the company's stock worth $2,266,000 after purchasing an additional 821,120 shares during the period. Reaves W H & Co. Inc. purchased a new position in shares of Lithium Americas in the third quarter worth approximately $1,142,000. Finally, Alps Advisors Inc. grew its position in Lithium Americas by 19.0% during the third quarter. Alps Advisors Inc. now owns 371,414 shares of the company's stock valued at $2,121,000 after buying an additional 59,236 shares during the period.

Analysts Set New Price Targets

A number of brokerages have commented on LAC. Cormark upgraded shares of Lithium Americas from a "hold" rating to a "moderate buy" rating in a research report on Friday, November 21st. Canaccord Genuity Group upgraded Lithium Americas from a "sell" rating to a "hold" rating in a research report on Wednesday, November 19th. Jefferies Financial Group restated a "buy" rating on shares of Lithium Americas in a research report on Monday, February 23rd. TD Securities raised Lithium Americas to a "hold" rating in a research note on Monday, February 9th. Finally, Scotiabank lifted their price objective on Lithium Americas from $5.00 to $7.00 and gave the company a "sector perform" rating in a research report on Monday, January 12th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lithium Americas currently has an average rating of "Hold" and a consensus price target of $5.81.

Lithium Americas Trading Up 0.8%

Shares of LAC stock opened at $4.68 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77. The stock has a fifty day simple moving average of $5.14 and a two-hundred day simple moving average of $5.13. The firm has a market capitalization of $1.42 billion, a PE ratio of -4.45 and a beta of 1.49. Lithium Americas Corp. has a 52-week low of $2.31 and a 52-week high of $10.52.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas' two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.

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