Lithium Americas Corp. (NYSE:LAC) Shares Sold by LPL Financial LLC

LPL Financial LLC cut its stake in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 29.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 336,632 shares of the company's stock after selling 138,639 shares during the period. LPL Financial LLC owned approximately 0.15% of Lithium Americas worth $1,000,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allworth Financial LP grew its position in Lithium Americas by 99.4% in the 4th quarter. Allworth Financial LP now owns 9,814 shares of the company's stock valued at $31,000 after acquiring an additional 4,893 shares in the last quarter. Perigon Wealth Management LLC boosted its stake 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 purchasing an additional 5,000 shares during the period. HighTower Advisors LLC grew its holdings in shares of Lithium Americas by 13.4% in the third quarter. HighTower Advisors LLC now owns 50,473 shares of the company's stock valued at $138,000 after purchasing an additional 5,952 shares in the last quarter. Balboa Wealth Partners increased its stake in Lithium Americas by 15.9% during the 4th quarter. Balboa Wealth Partners now owns 51,118 shares of the company's stock worth $152,000 after buying an additional 7,000 shares during the period. Finally, Sage Investment Counsel LLC acquired a new stake in Lithium Americas during the 4th quarter worth approximately $30,000.

Wall Street Analysts Forecast Growth

Several research firms have commented on LAC. Evercore ISI assumed coverage on shares of Lithium Americas in a research note on Thursday, April 17th. They issued an "outperform" rating and a $4.50 price target for the company. Piper Sandler lowered their target price 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. National Bankshares reaffirmed an "outperform" rating on shares of Lithium Americas in a research report on Wednesday, April 2nd. Cormark upgraded Lithium Americas to a "moderate buy" rating in a research note on Friday, January 17th. Finally, Scotiabank cut their target price on shares of Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating on the stock in a research note on Monday, March 31st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.75.

Lithium Americas Trading Down 1.9 %

LAC stock traded down $0.06 during trading on Friday, hitting $2.91. 2,620,388 shares of the company's stock were exchanged, compared to its average volume of 5,550,569. The business has a 50-day moving average price of $2.80 and a two-hundred day moving average price of $3.19. The stock has a market capitalization of $641.09 million, a price-to-earnings ratio of -24.21 and a beta of 1.01. Lithium Americas Corp. has a 52-week low of $2.02 and a 52-week high of $5.20.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its quarterly earnings data on Friday, March 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). On average, equities research analysts anticipate that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

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.