Oliver Lagore Vanvalin Investment Group Buys New Stake in Lithium Americas Corp. (NYSE:LAC)

Oliver Lagore Vanvalin Investment Group bought a new stake in Lithium Americas Corp. (NYSE:LACGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,261 shares of the company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC bought a new stake in Lithium Americas in the fourth quarter valued at about $29,000. Northern Oak Wealth Management Inc. boosted its position in Lithium Americas by 169.5% in the first quarter. Northern Oak Wealth Management Inc. now owns 795 shares of the company’s stock valued at $31,000 after buying an additional 500 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Lithium Americas by 725.0% in the first quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock valued at $32,000 after buying an additional 725 shares in the last quarter. Orion Capital Management LLC acquired a new position in Lithium Americas in the first quarter valued at about $35,000. Finally, Clearstead Advisors LLC acquired a new position in Lithium Americas in the first quarter valued at about $38,000. Institutional investors own 23.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LAC shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lithium Americas from $36.00 to $33.00 in a research report on Wednesday, July 6th. Canaccord Genuity Group reduced their price target on shares of Lithium Americas from C$50.00 to C$49.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.18.

Lithium Americas Price Performance

Shares of LAC stock opened at $28.50 on Friday. The firm’s 50 day moving average is $26.94 and its 200-day moving average is $26.50. Lithium Americas Corp. has a 1 year low of $18.89 and a 1 year high of $41.56. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of -52.78 and a beta of 1.52. The company has a current ratio of 44.14, a quick ratio of 44.14 and a debt-to-equity ratio of 0.26.

Lithium Americas (NYSE:LACGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. Sell-side analysts forecast that Lithium Americas Corp. will post -0.41 EPS for the current fiscal year.

Lithium Americas Profile

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Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.

See Also

Institutional Ownership by Quarter for Lithium Americas (NYSE:LAC)

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