Legal & General Group Plc Sells 293,130 Shares of Lithium Americas Corp. (NYSE:LAC)

Legal & General Group Plc cut its position in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,696,190 shares of the company's stock after selling 293,130 shares during the period. Legal & General Group Plc owned 0.77% of Lithium Americas worth $5,057,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Perigon Wealth Management LLC lifted its position in shares of Lithium Americas by 46.2% in the fourth quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company's stock valued at $47,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Lithium Americas by 21.6% in the third quarter. Geode Capital Management LLC now owns 103,275 shares of the company's stock valued at $279,000 after purchasing an additional 18,321 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Lithium Americas by 29.5% during the 4th quarter. Jones Financial Companies Lllp now owns 87,350 shares of the company's stock worth $259,000 after buying an additional 19,908 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Lithium Americas during the 4th quarter worth about $130,000. Finally, HB Wealth Management LLC acquired a new position in Lithium Americas in the 4th quarter valued at about $55,000.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LAC. Scotiabank reduced their price objective on Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating for the company in a report on Monday, March 31st. National Bankshares reaffirmed an "outperform" rating on shares of Lithium Americas in a research report on Wednesday, April 2nd. Evercore ISI began coverage on shares of Lithium Americas in a report on Thursday, April 17th. They issued an "outperform" rating and a $4.50 price objective for the company. Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a research report on Friday, January 17th. Finally, Piper Sandler cut their price target on Lithium Americas from $3.90 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $4.75.

Lithium Americas Stock Down 2.0 %

Shares of LAC stock traded down $0.06 on Friday, reaching $2.90. The company had a trading volume of 4,610,612 shares, compared to its average volume of 5,561,880. The business's 50-day moving average is $2.79 and its 200 day moving average is $3.19. Lithium Americas Corp. has a one year low of $2.02 and a one year high of $5.20. The stock has a market capitalization of $639.99 million, a PE ratio of -24.17 and a beta of 1.01.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its earnings results on Friday, March 28th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). On average, sell-side analysts forecast 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.