HITE Hedge Asset Management LLC lifted its holdings in Lithium Americas Corp. (NYSE:LAC - Free Report) by 150.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 731,473 shares of the company's stock after buying an additional 439,974 shares during the quarter. HITE Hedge Asset Management LLC owned approximately 0.33% of Lithium Americas worth $2,172,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quinn Opportunity Partners LLC boosted its stake in Lithium Americas by 1,132.5% in the fourth quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company's stock valued at $2,411,000 after acquiring an additional 745,777 shares during the period. Teamwork Financial Advisors LLC grew its stake in Lithium Americas by 79.2% during the 4th quarter. Teamwork Financial Advisors LLC now owns 714,381 shares of the company's stock worth $2,122,000 after buying an additional 315,621 shares during the last quarter. Tidal Investments LLC increased its position in Lithium Americas by 31.8% in the third quarter. Tidal Investments LLC now owns 379,078 shares of the company's stock worth $1,024,000 after buying an additional 91,353 shares during the period. Alberta Investment Management Corp bought a new stake in Lithium Americas in the fourth quarter valued at $686,000. Finally, Independent Wealth Network Inc. boosted its holdings in shares of Lithium Americas by 133.4% during the fourth quarter. Independent Wealth Network Inc. now owns 216,973 shares of the company's stock valued at $644,000 after acquiring an additional 123,993 shares during the period.
Analysts Set New Price Targets
Several brokerages recently weighed in on LAC. Scotiabank cut their price objective on shares of Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating on the stock in a research report on Monday, March 31st. Cormark raised Lithium Americas to a "moderate buy" rating in a report on Friday, January 17th. Piper Sandler decreased their price objective on Lithium Americas from $3.90 to $3.50 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Evercore ISI initiated coverage on Lithium Americas in a research note on Thursday, April 17th. They set an "outperform" rating and a $4.50 target price on the stock. Finally, National Bankshares reissued an "outperform" rating on shares of Lithium Americas in a research note on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $4.75.
Check Out Our Latest Stock Analysis on LAC
Lithium Americas Price Performance
Shares of LAC traded up $0.08 during mid-day trading on Wednesday, hitting $2.78. The company's stock had a trading volume of 3,405,059 shares, compared to its average volume of 5,569,072. Lithium Americas Corp. has a fifty-two week low of $2.02 and a fifty-two week high of $5.20. The stock has a market capitalization of $613.50 million, a price-to-earnings ratio of -23.17 and a beta of 1.01. The firm has a 50-day moving average price of $2.80 and a 200 day moving average price of $3.19.
Lithium Americas (NYSE:LAC - Get Free Report) last posted its quarterly earnings results on Friday, March 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.09). As a group, equities analysts anticipate that Lithium Americas Corp. will post -0.12 EPS for the current fiscal year.
About Lithium Americas
(
Free Report)
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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