Lithium Americas Corp. (NYSE:LAC) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. trimmed its holdings in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 48.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 308,036 shares of the company's stock after selling 285,805 shares during the period. Scotia Capital Inc. owned about 0.14% of Lithium Americas worth $915,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Perigon Wealth Management LLC raised its position in Lithium Americas by 46.2% in the fourth quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company's stock worth $47,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 period. Jones Financial Companies Lllp boosted its holdings in Lithium Americas by 29.5% during the fourth 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Lithium Americas in the fourth quarter valued at about $130,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Lithium Americas during the 4th quarter worth approximately $55,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LAC shares. National Bankshares reiterated an "outperform" rating on shares of Lithium Americas in a research report on Wednesday, April 2nd. Scotiabank cut their target price on shares of Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating for the company in a research report on Monday, March 31st. Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research note on Friday, January 17th. Evercore ISI began coverage on Lithium Americas in a research report on Thursday. They set an "outperform" rating and a $4.50 price target for the company. Finally, Piper Sandler decreased their price objective on Lithium Americas from $3.90 to $3.50 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Six investment 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.com, the stock currently has an average rating of "Hold" and a consensus price target of $4.79.

Lithium Americas Trading Down 0.6 %

Shares of NYSE LAC traded down $0.02 on Friday, reaching $2.69. 2,881,676 shares of the company traded hands, compared to its average volume of 5,614,167. The company has a 50 day moving average of $2.82 and a 200 day moving average of $3.19. 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 $592.54 million, a PE ratio of -22.38 and a beta of 1.01.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings data 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, research analysts expect that Lithium Americas Corp. will post -0.12 earnings per share 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.